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3I0-010 Real Exam Questions

ACI Operations Certificate

342 questions available · Page 1 of 35

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Question 1 Single choice

Which country does the BIC-address BKENGB33CUS belong to?

  1. A

    the United Kingdom

  2. B

    the United States of America

  3. C

    Germany

  4. D

    Gambia

Show answer and explanation

Correct answer: A

Question 2 Single choice

The "value date" is best described as:

  1. A

    The date a trade is undertaken

  2. B

    The date the fixing rate is agreed upon

  3. C

    The date the settlement occurs

  4. D

    The date confirmations are exchanged between counterparties

Show answer and explanation

Correct answer: C

Question 3 Single choice

The discount or premium on forward foreign exchange points is calculated based on:

  1. A

    the level of interest rates in the base currency

  2. B

    the level of interest rates in the counter currency

  3. C

    the differential between the interest rates in the two currencies

  4. D

    the current volatility in the FX markets

Show answer and explanation

Correct answer: C

Question 4 Single choice

FX Swaps can be used to:

  1. A

    swap a fixed leg into a variable leg

  2. B

    buy or sell the currency of your choice

  3. C

    arbitrage between foreign exchange and interest rates

  4. D

    arbitrage between deposits and forward points

Show answer and explanation

Correct answer: D

Question 5 Single choice

What is the advantage of instantaneous matching?

  1. A

    it gives the counterparty more time to cancel a deal

  2. B

    it reduces errors and costs

  3. C

    it gives front-office staff more time to process the payment orders

  4. D

    it increases transaction costs

Show answer and explanation

Correct answer: B

Question 6 Single choice

If you execute a sale of bonds, and the securities have not been delivered 2 days after you have received

payment on the agreed settlement date, which of the following is correct:

  1. A

    you will have to pay at least 2 days of funding costs on top of the coupon

  2. B

    the counterparty will have to pay at least 2 days of interest charges on top of the coupon

  3. C

    you have no debt to the counterparty

  4. D

    the counterparty has a debt to you

Show answer and explanation

Correct answer: A

Question 7 Single choice

Your money market dealer has accepted a deposit of EUR 10,000,000.00 at 2 3/8% for 12 months (365 days).

How much will you have to pay back in capital plus accrued interest at maturity?

  1. A

    EUR 10,240,799.00

  2. B

    EUR 240,291.67

  3. C

    EUR 10,237,500.00

  4. D

    EUR 10,240,798.61

Show answer and explanation

Correct answer: D

Question 8 Single choice

Your forward CHF dealer asks you, the junior settlements clerk, to amend revaluation rates for the forward CHF book before they are submitted to the risk management department for input.

What should you do?

  1. A

    amend the rates as requested

  2. B

    refuse to amend the rates, but say nothing

  3. C

    refuse and report the incident to your superior

  4. D

    refuse and report the incident to your colleague

Show answer and explanation

Correct answer: C

Question 9 Single choice

Which two countries are not participating in TARGET2?

  1. A

    Poland and Sweden

  2. B

    Luxembourg and Great Britain

  3. C

    Sweden and Great Britain

  4. D

    Poland and Luxembourg

Show answer and explanation

Correct answer: C

Question 10 Single choice

What does LIBOR stand for?

  1. A

    London Interbank Overseas Rate

  2. B

    London Interbank Offered Rate

  3. C

    Lending Interbank Offered Rate

  4. D

    Leading Interbank Basis Offered Rate

Show answer and explanation

Correct answer: B