ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 121:

  Your trader has bought EUR 5,000,000.00 against USD at 1.0891. How much would you expect to pay for settlement?

  A. USD 4,590,946. 65
  B. USD 5,545,500.00
  C. USD 4,582,951.42
  D. USD 5,445,500.00
  D. USD 5,445,500.00

• Question 122:

  A yield curve can be drawn for a wide variety of financial instruments. The most widely analyzed yield curves are those for benchmark instruments such as:

  A. consumption and inflation levels
  B. money market rates and government bonds
  C. mortgage rates
  D. commodities
  B. money market rates and government bonds

• Question 123:

  Internal nostro ledger accounts

  A. are commonly used to register off-balance sheet movements
  B. are used to book internal tax related items
  C. generally mirror the nostro statements
  D. are reserved for audit purposes only
  C. generally mirror the nostro statements

• Question 124:

  In the US commercial paper market, commercial paper is limited to

  A. a 270-day tenor
  B. a 360-day tenor
  C. a 365-day tenor
  D. a 366-day tenor
  A. a 270-day tenor

• Question 125:

  You spot a rate discrepancy between you and your counterparty on a AUD/USD deal. The deal was traded direct. You refer the discrepancy to the dealer and he tells you to change the rate. What should you do?

  A. amend the rate yourself
  B. ask the settlements clerk to amend the rate for you
  C. ask the dealer to manually amend the rate on the ticket and then pass it to the settlements clerk to amend
  D. make no amendment
  C. ask the dealer to manually amend the rate on the ticket and then pass it to the settlements clerk to amend

• Question 126:

  Which of the following is characteristically of a CD?

  A. A CD is a certificate for a gold deposit
  B. The CD issuer can redeem the certificate at any time
  C. It is a non-negotiable instrument.
  D. A CD is a certificate for a time deposit
  D. A CD is a certificate for a time deposit

• Question 127:

  The tenor of a bill of exchange describes:

  A. the original rate of the bill
  B. the rate at which the bill is bought
  C. the time to maturity of the bill
  D. the date on which the bill matures
  C. the time to maturity of the bill

• Question 128:

  Which of the following types of payment demands extra diligence and review procedures?

  A. nostro funding payment
  B. third party payment
  C. value spot USD payment
  D. value spot payment for currency equivalents > USD 3,000,000.00
  B. third party payment

• Question 129:

  Which of the following statements would be regarded as describing best practice?

  A. internal transactions should not be confirmed as there is no credit risk involved
  B. chasers on internal confirmations should be sent less frequently than those for external confirmations
  C. internal confirmations should be subject to the same procedures as those in place for external clients
  D. control procedures should be relaxed generally for internal confirmations
  C. internal confirmations should be subject to the same procedures as those in place for external clients

• Question 130:

  What is a loro or vostro bank account?

  A. an account that you hold with another bank
  B. an account that another bank holds with you
  C. an account that you hold with the Bank of England
  D. a suspense account
  B. an account that another bank holds with you