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　　1.An implementation principle recommended by the Basel Committee to banks for the governance of sound stress testing practices is that stress testing reports should:
　　A. Not be passed up to senior management without first being approved by middle management.
　　B. Have limited input from their respective business areas to prevent biasing of the results.
　　C. Challenge prior assumptions to help foster debate among decision makers.
　　D. Be separated by business lines to help identify risk concentrations.
　　2.Which of the following statements regarding a sinking fund provision is most accurate?
　　A. It requires that the issuer set aside money based on a predefined schedule to accumulate the cash to retire the bonds at maturity.
　　B. It must be made through the payment of cash, paid to the trustee based on a predetermined schedule.
　　C. It permits the issuer to retire more than the stipulated sinking fund amount if they choose.
　　D. It requires that the issuer retire a portion of the principal through a series of principal payments over the life of the bond.
　　3.Which of the top-down approaches of measuring operational risk focus on LFHS?
　　A. Risk Profiling Models.
　　B. Operating Leverage Models.
　　C. Multifactor Models.
　　D. Scenario Analysis.
　　Answer:
　　1.C
　　The Basel Committee states "At banks that were highly exposed to the financial crisis and fared comparatively well, senior management as a whole took an active interest in the development and operation of stress testing stress testing at most banks, however, did not foster internal debate nor challenge prior assumptions" Therefore, the Basel Committee recommends that prior assumptions used in stress testing be challenged to ensure that the stress test best captures the potential for extreme scenarios given current market conditions.
　　2.D
　　A sinking fund actually retires the bonds based on a schedule. This can be accomplished through either payment of cash or through the delivery of securities. An accelerated sinking fund provision allows the company to retire more than is stipulated in the indenture.
　　3.D
　　Scenario Analysis is unique among top-down approaches focusing on LFHS events that have not occurred yet.