ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 131:

  On the sale of a CD, the seller

  A. receives a lower price than he originally paid
  B. receives a higher price than he originally paid
  C. receives a price calculated using the price originally paid
  D. there is not enough information to know how much the seller receives
  D. there is not enough information to know how much the seller receives

• Question 132:

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

• Question 133:

  Inexplicably, the Chief FX trader asks the junior settlements clerk to hold back a deal input until the following morning. Which of the following courses of action should you recommend?

  A. refuse, input the deal as normal but keep the request to yourself
  B. input the deal the following morning as requested by the Chief FX trader
  C. refuse, input the deal and tell another spot trader
  D. refuse, input the deal and report the incident to your superior
  D. refuse, input the deal and report the incident to your superior

• Question 134:

  The clearing house of a financial futures exchange:

  A. acts as counterparty to each buyer and seller
  B. is responsible for market making
  C. requires members to cover their commitments on a week-to-week basis
  D. does not regulate trader's activities
  A. acts as counterparty to each buyer and seller

• Question 135:

  The exercise price (strike price) of an option contract is:

  A. the price of the underlying instrument at the time of the transaction
  B. the price at which the transaction on the underlying instrument will be carried out if the option is exercised
  C. the price the buyer of the option pays to the seller when entering into the options trade
  D. the price at which the two counterparties can close out their position
  B. the price at which the transaction on the underlying instrument will be carried out if the option is exercised

• Question 136:

  What is a future nostro balances report?

  A. a list of the final maturity of bonds per value date
  B. an account of the possible fees to be paid
  C. a comparison of the overdraft interest to be paid on different nostro accounts
  D. a report produced to show the anticipated balance on the account as a result of running off existing business
  D. a report produced to show the anticipated balance on the account as a result of running off existing business

• Question 137:

  How would you denote that EUR funds are to be paid via TARGET on a typical MT 202 message?

  A. There is no need to note this separately as payments via TARGET are made only in euro.
  B. The word TARGET is used in field 72 "Bank to Bank Information".
  C. "//RT" is indicated once in the optional account number field 56A, 57A or 58A.
  D. TARGET is used in the "Pay To Bank" field.
  C. "//RT" is indicated once in the optional account number field 56A, 57A or 58A.

• Question 138:

  What is a nostro bank account?

  A. an account held with another bank
  B. an account another bank holds with you
  C. a trust account
  D. a suspense account
  A. an account held with another bank

• Question 139:

  You find that you have paid an amount to the wrong counterparty. What action should you take?

  A. wait until the counterparty contacts you to before deciding what to do
  B. immediately contact the counterparty to find the most appropriate way to have the funds returned as quickly as possible to minimize the loss of value days
  C. ask the counterparty to keep the money and to place (invest) it at a special rate
  D. ask your accounting department to book the amount as a loss
  B. immediately contact the counterparty to find the most appropriate way to have the funds returned as quickly as possible to minimize the loss of value days

• Question 140:

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