ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 91:

  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
  A. TARGET

• Question 92:

  Your dealer has bought USD 5,000,000.00 against EUR at a rate of 1.0785. In settlement you would expect to:

  A. receive EUR 4,636,068.61
  B. receive EUR 5,392,500.00
  C. pay EUR 4,636,068.61
  D. pay EUR 5,392,500.00
  C. pay EUR 4,636,068.61

• Question 93:

  Generally, "initial margin" means:

  A. the notional amount of a contract
  B. a deposit amount per contract that is determined by the futures exchange
  C. the maximum net loss during the contract period
  D. the minimum net loss during the contract period
  B. a deposit amount per contract that is determined by the futures exchange

• Question 94:

  What is a correspondent bank?

  A. a bank which processes payment orders on behalf of another bank
  B. a bank which processes payment orders on national level only
  C. a bank which has subsidiaries in CLS-countries
  D. a bank which has a minimum reserve account in more than one country
  A. a bank which processes payment orders on behalf of another bank

• Question 95:

  You are an issuer of a straight bond and you want to change your exposure from a fixed rate to a floating rate because you expect a fall in interest rates. What would you do?

  A. Buy an IRS
  B. Sell an IRS
  C. Buy a FRA
  D. Do nothing because the bond coupon is already a fixed rate
  B. Sell an IRS

• Question 96:

  If today's spot date were Friday, 27 February, what would the normal one-month deposit maturity date be? (Assume there are no bank holidays)

  A. 28 March
  B. 29 March
  C. 30 March
  D. 31 March
  D. 31 March

• Question 97:

  If a spot next EUR/USD FX swap is traded on Monday, 18 August, and there are no holidays in the relevant currencies during the week of August 18 - 22 what would be the value dates of the two swap legs?

  A. 20 - 27 August
  B. 20 August - 20 September
  C. 20 - 21 August
  D. 19 - 20 August
  C. 20 - 21 August

• Question 98:

  What is a SWIFT message type 210?

  A. a payment by a private customer
  B. a confirmation of a spot transaction
  C. an interbank payment
  D. payment advice
  D. payment advice

• Question 99:

  In the UK, T-Bills are issued by:

  A. the Government (Debt Management Office)
  B. the Bank of England
  C. the FSA
  D. the International Monetary Fund (IMF)
  A. the Government (Debt Management Office)

• Question 100:

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