ACI ACI Certifications 3I0-010 Questions & Answers

• Question 191:

  What is the function of the cash positions keeper?

  A. He/she acts as a running control on the balance of a nostro, alerting the treasury dealer when funds are running too low or too high for a particular value day measured by agreed upon internal parameters

  B. He/she assists the dealer in deciding which currency to invest in

  C. He/she informs back office staff about which kind of confirmations are to be used

  D. He/she acts as a running control on the balance of an internal account, alerting the treasury dealer when fees are running too low or high for a particular value day

  Correct Answer: A

• Question 192:

  Which kind of report is a reconciliation system unable to produce?

  A. A "probable matched items report" (a report in which most fields match but there are some discrepancies)

  B. A "calculated fees report" (a report of the expected fees owed)

  C. A "matched items report" (a report of all fields that match)

  D. An "unmatched items report" (a report of items for which one is unable to find matches)

  Correct Answer: B

• Question 193:

  A payment is made from Germany to a second Euro zone country. Which international payment system would normally be used?

  A. TARGET

  B. ELS

  C. Euroclear

  D. Clearstream Banking Luxembourg

  Correct Answer: A

• Question 194:

  When is the final cut-off time for settlement of payment orders using the Fedwire Funds Service?

  A. 17:30 (5:30 p.m.) Eastern Standard Time (EST)

  B. 18:00 (6:00 p.m.) Eastern Standard Time (EST)

  C. 18:30 (6:30 p.m.) Eastern Standard Time (EST)

  D. 19:00 (7:00 p.m.) Eastern Standard Time (EST)

  Correct Answer: C

• Question 195:

  What is the main purpose of nostro reconciliations?

  A. to compare the cash entries that have passed through the banks internal nostro accounts, with the actual cash movements at the banks agent account. Thus, expected cash movements are reconciled with actual cash movements.

  B. to compare the securities entries that have passed through the banks internal nostro accounts, with the actual securities movements at the banks agent account

  C. to compare expected securities movements with actual securities movements

  D. to provide an overview of all the transactions listed by counterparty

  Correct Answer: A

• Question 196:

  What is an essential feature of nostro reconciliations?

  A. that a daily nostro reconciliation report is sent out to the correspondent bank

  B. that they are performed before the next business day

  C. that they are performed in a timely and efficient way

  D. that open items are booked on an internal account

  Correct Answer: C

• Question 197:

  What are the key fields for matching criteria in a spot FX transaction?

  A. value date, currency and the amount bought or sold in the two currencies

  B. value date, currency and the amount bought in that currency, currency and the amount sold in that currency, exchange rate

  C. deal date, value date and exchange rate

  D. value date, account number and BIC-address

  Correct Answer: B

• Question 198:

  Which of the following is a US payment system?

  A. CHAPS

  B. CHIPS

  C. BOJ

  D. CLS

  Correct Answer: B

• Question 199:

  With respect to financial payments, what does "bridge" mean?

  A. it refers to an electronic settlement between Euroclear and Clearstream

  B. it is an electronic settlement between US Clear and Clearcom

  C. it refers to the relationship between two nostro account institutions

  D. it designates the exchange of payment orders between a nostro and a vostro account

  Correct Answer: A

• Question 200:

  What is the standard for settlement of cross-border DVP systems?

  A. T+3, meaning that settlement is due three days after the deal date

  B. T+4, meaning that settlement is due four days after the deal date

  C. T+1, meaning that settlement is due one day after the deal date

  D. T+2, meaning that settlement is due two days after the deal date

  Correct Answer: A