2016-FRR Exam Dumps | Which statements correctly describe the features of using subscription databases for operational loss

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Financial Risk and Regulation (FRR) Series
GARP.2016-FRR.v2024-09-09.q145
Question 8

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Question 8/145

Which statements correctly describe the features of using subscription databases for operational loss data analysis?
Subscription databases
I. Provide central data repositories and benchmarking services to their members.
II. Can provide insight into whether the losses in a firm reflect the usual losses in their industry.
III. Assist with mapping the events to the appropriate business lines, risk categories and causes.
IV. Reflect only events that are interesting to the press and are reported in the press.

A. I and II

B. II and III

C. I, II and III

D. II, III, and IV

Correct Answer: C

* Statement I: Subscription databases provide central data repositories and benchmarking services to their members.
* Verified and correct. These databases aggregate data from multiple sources to provide valuable benchmarking information.
* Statement II: Subscription databases can provide insight into whether the losses in a firm reflect the
* usual losses in their industry.
* Verified and correct. By comparing a firm's losses with industry data, firms can identify trends and anomalies.
* Statement III: Subscription databases assist with mapping the events to the appropriate business lines, risk categories, and causes.
* Verified and correct. Proper mapping helps in accurate risk assessment and management.
* Statement IV: Subscription databases reflect only events that are interesting to the press and are reported in the press.
* Incorrect. These databases aim to capture a wide range of operational loss events, not just those reported in the press.

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