Free PRMIA 8013 Practice Exam Questions and Answers 2026

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Total 290 Questions | Updated On: Apr 02, 2026

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Question 1

Which of the following have a negative gamma:I. a long call positionII. a short put positionIII. a short call positionIV. a long put position

A : III and IV

B : I and IV

C : II and III

D : I and II

Answer: C

Question 2

What is the standard deviation (in dollars) of a portfolio worth $10,000, of which $4,000 is invested in Stock A, with an expected return of 10% and standard deviation of 20%; and the rest in Stock B, with an expected return of 12% and a standard deviation of 25%. The correlation between the two stocks is 0.6.

A : $2,081

B : $1,201

C : $1,204

D : $4,330,000

Answer: A

Question 3

A US treasury bill with 90 days to maturity and a face value of $100 is priced at $98. What is the annual bondequivalent yield on this treasury bill?

A : 8.16%

B : 8.11%

C : 8.28%

D : 8.00%

Answer: C

Question 4

Identify the underlying asset in a treasury note futures contract?

A : Any long term US Treasury bond with a maturity of more than 10 years and not callable within 10 years

B : Any long term US Treasury note with a maturity between 6.5 years and 10 years from the date of delivery

C : Any long term US Treasury bond with a maturity of more than 15 years and not callable within 15 years

D : Any of the above, with the price adjusted with the coupon and maturity date of the bond delivered

Answer: B

Question 5

Determine the price of a 3 year bond paying a 5% coupon. The 1,2 and 3 year spot rates are 5%, 6% and 7% respectively. Assume a face value of $100.

A : $ 94.92

B : $ 106.00

C : $ 100.00

D : $93.92

Answer: A

Page: 1 / 58

Total 290 Questions | Updated On: Apr 02, 2026

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