ACI ACI Certifications 3I0-010 Questions & Answers

• Question 161:

  Where is the bank with the BIC-address "BOJPJPJT" located?

  A. Jamaica

  B. Jordan

  C. Bosnia

  D. Japan

  Correct Answer: D

• Question 162:

  What is the primary role of the position-keeper in a dealing room?

  A. to keep the multilateral limits updated

  B. to invest funds at the highest available interest rate

  C. to keep the balance or position of the accounts or nostros in each currency representing the accounts held by the bank's agents

  D. to keep the management informed about interest rate developments

  Correct Answer: C

• Question 163:

  The use of a net open positions report:

  A. can be used to show the counterparty the amounts it has to pay

  B. can be used as the basis of reporting the banks position to the relevant central bank of the country concerned, against the limit granted for the bank

  C. can be used as the basis of reporting the banks position to the relevant tax regulations office of the country concerned

  D. can be used to adjust the country limits

  Correct Answer: B

• Question 164:

  A counterparty pays your bank USD 10,000,000.00 5 days late requiring you to pay overdraft charges of 8% p. a. What expenses would you claim from the counterparty in GBP at an exchange rate of 1.6000?

  A. GBP 6,944.44

  B. GBP 7,944.44

  C. GBP 17,777.77

  D. GBP 6,849.32

  Correct Answer: A

• Question 165:

  What are the communication channels most often used for investigations?

  A. secured videoconferencing

  B. mail, telex

  C. phone, SWIFT

  D. fax

  Correct Answer: C

• Question 166:

  Which of the following best describes the main objective of the nostro reconciliation function?

  A. to ensure efficient cash management

  B. to ensure that all receipts of foreign currency are made in a timely fashion

  C. to reduce the amounts paid in interest rate claims due to late payments

  D. to ensure that expected cash movements agree with the actual movements of currency

  Correct Answer: B

• Question 167:

  When completing a nostro reconciliation, what does an unresolved ledger debit signify?

  A. the non-receipt of funds from a counterparty

  B. the non-payment of funds to a counterparty

  C. the duplicate payment of funds to a counterparty

  D. the duplicate receipt of funds from a counterparty

  Correct Answer: A

• Question 168:

  When completing a nostro reconciliation, what does an unresolved ledger credit signify?

  A. the duplicate receipt of funds from a counterparty

  B. the non-payment of funds to a counterparty

  C. the duplicate payment of funds to a counterparty

  D. the non-receipt of funds from a counterparty

  Correct Answer: B

• Question 169:

  Why is a failed trade log important?

  A. it helps the risk manager to adjust the limits

  B. it allows the cash positions keeper to retrace the arrival of the funds

  C. it is essential in determining compensation arrangements at a later date

  D. the auditors require these logs for their statistics

  Correct Answer: C

• Question 170:

  What is a ladder maturity report?

  A. a report that starts with the net open position and runs off day by day to arrive at a zero balance

  B. a report of outstanding securities transactions

  C. a report that begins with a zero balance and at the end of the day, lists all FX deals by maturity

  D. a list of the maturity of all deals per value date

  Correct Answer: D