Free CRA — Chartered Risk Analyst Exam Questions and Answers
CRA — Chartered Risk Analyst is one of the AAFM India tests covered here. AAFM India is a private company in New Delhi that markets a family of chartered finance designations — CWM, CTEP, AFA, Chartered Economist, Chartered Portfolio Manager and others — under licence from the Global Academy of Finance and Management, which acquired the original American Academy of Financial Management's intellectual property in January 2015. Its own about page states that it operates as an education and certification body and does not act as a regulator or licensing authority. CWM is the flagship: two levels, 85 questions in 180 minutes each, 50% to pass, no negative marking.
The first 10 questions on this page are free to read, answers included — no account and no card. A plan opens the rest of the bank, the full timed practice test and your weak-topic reporting.
Last updated: September 12, 2026
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- 130 mins · 70%
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Question #1
What is the primary purpose of risk management in an organization?
Please select an optionIncorrectCorrect answer: C
Risk management aims to identify and minimize risks that could impact the organization.
Was this answer correct?Question #2
A company faces reputational risk due to a data breach. What is the first step in managing this risk?
Please select an optionIncorrectCorrect answer: D
Assessing damage helps the organization understand the extent of the reputational risk before addressing it.
Was this answer correct?Question #3
During a financial crisis, which type of risk tends to have the most significant impact?
Please select an optionIncorrectCorrect answer: C
Financial risks are particularly pronounced during economic downturns, impacting liquidity and solvency.
Was this answer correct?Question #4
A new regulation is introduced that affects the risk exposure of your firm. What should be done first?
Please select an optionIncorrectCorrect answer: D
Analyzing the regulation helps to understand its impact on existing risk profiles before making other changes.
Was this answer correct?Question #5
What's the main difference between qualitative and quantitative risk analysis?
Please select an optionIncorrectCorrect answer: A
Qualitative risk analysis involves descriptive methods, while quantitative analysis uses numerical data for evaluation.
Was this answer correct?Question #6
In crisis management, which principle is essential for maintaining stakeholder trust?
Please select an optionIncorrectCorrect answer: A
Transparency fosters trust and allows stakeholders to feel informed during a crisis.
Was this answer correct?Question #7
If a company does not comply with regulatory requirements, what risk are they primarily exposed to?
Please select an optionIncorrectCorrect answer: A
Non-compliance with regulations leads to legal risks, including penalties and reputational damage.
Was this answer correct?Question #8
To calculate the Value at Risk (VaR) of an investment portfolio, which method is commonly used?
Please select an optionIncorrectCorrect answer: D
Historical simulation is commonly applied to calculate the Value at Risk, considering past market data.
Was this answer correct?Question #9
A financial institution is planning to introduce a new loan product. What should be the immediate risk focus?
Please select an optionIncorrectCorrect answer: B
Credit risk analysis is essential for assessing the risk of borrowers defaulting on new loan products.
Was this answer correct?Question #10
How can diversifying investments reduce risk in a portfolio?
Please select an optionIncorrectCorrect answer: D
Diversification spreads risk across different assets, reducing the potential impact of any single asset's poor performance.
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Other AAFM India certifications
- CFP — Certified Financial Planner (opens in a new tab)
- CPFA — Certified Private Fund Advisor (opens in a new tab)
- CAFP — Certified Alternative Fund Practitioner (opens in a new tab)
- CFA — Chartered Financial Analyst (opens in a new tab)
- MFP — Master Financial Planner (opens in a new tab)
- CRBA — Certified Risk and Business Analyst (opens in a new tab)
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FAQ
Learn More: https://www.aafmindia.co.in/best-finance-courses-in-india.aspx
- Q1: What is the CRA — Chartered Risk Analyst exam?
- A: CRA — Chartered Risk Analyst is a AAFM India certification exam. Judging by the questions in our bank, it concentrates on quantitative and investment.
- Q2: How should I prepare for CRA — Chartered Risk Analyst?
- A: Work through the CRA — Chartered Risk Analyst practice questions here, checking your answer on each one, then sit the practice test to rehearse the exam under timed conditions before the real thing.
- Q3: Are these real CRA — Chartered Risk Analyst exam questions?
- A: They are drawn from officially released past questions and from community members who have sat CRA — Chartered Risk Analyst. Answers are verified and updated weekly.
- Q4: Where do I register for the CRA — Chartered Risk Analyst exam?
- A: Register through AAFM India directly at https://www.aafmindia.co.in/best-finance-courses-in-india.aspx. Exampractice is not affiliated with AAFM India and does not administer the exam.
- Q5: Is there a free CRA — Chartered Risk Analyst sample?
- A: Yes. Every CRA — Chartered Risk Analyst page shows a free sample of real questions. Upgrading opens the full bank and the practice test.
- Q6: What are AAFM India Certification Exams?
- A: AAFM (American Academy of Financial Management) India Certification Exams are professional examinations that validate expertise in financial planning, wealth management, risk management, and related financial disciplines.
- Q7: Why should I pursue AAFM India Certification?
- A: AAFM India Certification enhances your professional credibility, showcasing your skills and knowledge in financial management, which can lead to better job opportunities, higher salaries, and career advancement.
- Q8: What are the benefits of AAFM India Certification?
- A: Benefits include recognition as a certified financial expert, improved job performance, access to exclusive resources, and the ability to stay current with the latest financial strategies and practices.
- Q9: Who should take AAFM India Certification Exams?
- A: Financial professionals, wealth managers, risk managers, investment advisors, and anyone involved in financial planning or management should consider these certifications to validate their expertise and advance their careers.
- Q10: What types of AAFM India Certification Exams are available?
- A: AAFM India offers various certification paths such as Chartered Wealth Manager (CWM), Chartered Financial Goal Planner (CFGP), and Chartered Risk Analyst (CRA), each tailored to specific roles and expertise levels.
- Q11: How do I prepare for AAFM India Certification Exams?
- A: Preparation can include official AAFM India training programs, study guides, practice exams, and hands-on experience in financial management and planning.
- Q12: Where can I take AAFM India Certification Exams?
- A: AAFM India Certification Exams can be taken at authorized testing centers across India, providing flexibility to fit your schedule and location.
- Q13: How do AAFM India Certifications impact my career?
- A: AAFM India Certifications significantly boost your career by demonstrating your expertise to employers, making you a more competitive candidate for advanced roles and promotions in the financial industry.
- Q14: Are there any prerequisites for AAFM India Certification Exams?
- A: Some exams may have prerequisites, such as foundational knowledge or prior certifications. Check the specific requirements for each certification path on the AAFM India website.
- Q15: How often do I need to recertify for AAFM India Certifications?
- A: AAFM India Certifications typically require recertification every two to three years to ensure that certified professionals stay updated with the latest financial trends and practices.