ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 201:

  Today, the spot value for a USD deposit is Wednesday, 29 February. What is the 4 months maturity date? (Assume that there are no bank holidays)

  A. Thursday, 27 June
  B. Friday, 28 June
  C. Saturday, 29 June
  D. Monday, 1 July
  B. Friday, 28 June

• Question 202:

  On 15 April 2010 you buy a bond whose coupon falls on 15 January 2010. The interest basis is 30/360. Using bond settlement T+1, how many days do you apply for the interest calculation?

  A. 89 days
  B. 90 days
  C. 91 days
  D. 92 days
  C. 91 days

• Question 203:

  You borrow GBP 2,500,000.00 at 6 5/8% for 165 days. How much do you have to repay, including interest?

  A. GBP 2,575,911.46
  B. GBP 2,574,871.58
  C. GBP 2,573,459.90
  D. GBP 2,573,986. 25
  B. GBP 2,574,871.58

• Question 204:

  What is the Bank Identifier Code (BIC)?

  A. a universal method of identifying financial institutions in order to facilitate automated processing of telecommunication messages in banking and related financial environments
  B. a European system for listing the VAT-number of financial institutions
  C. the standardized worldwide bank ranking code
  D. a universal method of identifying the outstanding cash positions of banks
  A. a universal method of identifying financial institutions in order to facilitate automated processing of telecommunication messages in banking and related financial environments

• Question 205:

  What is the disadvantage having separate cash accounts?

  A. You need more back office staff to book the fees
  B. One account could be overdrawn while the other has excess funds. The surplus balance would earn less interest than the amount being charged on the corresponding overdraft if an error occurs in settlement. Thus there is a risk of overdraft interest versus idle balances
  C. One securities account could be overdrawn while the other has excess securities. The surplus balance would earn less interest, if any, than that being charged on the corresponding overdraft if an error occurs in settlement
  D. The workload of the auditors, compliance officers, risk managers and dealers will be higher
  B. One account could be overdrawn while the other has excess funds. The surplus balance would earn less interest than the amount being charged on the corresponding overdraft if an error occurs in settlement. Thus there is a risk of overdraft interest versus idle balances

• Question 206:

  What do FX swap rates represent?

  A. an interest rate differential between two currencies
  B. the price of an option
  C. the expectation of an appreciation of a currency
  D. the volatility of a currency
  A. an interest rate differential between two currencies

• Question 207:

  A month ago, a customer placed EUR 100,000.00 at 2% on a time deposit for 90 days. Today, 30 days later, he requests an anticipated close of his deposit. 2 and 3 month interbank rates are 2 1/8% bid and 2 1/4% offered. What do you do?

  A. You agree and pay back to the customer the capital plus 2% interest calculated on 30 days
  B. You agree and pay back to the customer the capital plus 2% interest on 30 days less your refinancing costs of 1/8% calculated on 30 days
  C. You agree and pay back to the customer the capital plus 2% interest on 30 days less your refinancing costs of 1/8% calculated on 60 days
  D. You agree and pay back to the customer the capital plus 2% interest on 90 days minus the actualization of this amount at 2 1/4% calculated over 60 days
  D. You agree and pay back to the customer the capital plus 2% interest on 90 days minus the actualization of this amount at 2 1/4% calculated over 60 days

• Question 208:

  If an overnight EUR/USD FX swap is traded on Tuesday, 19 June, and there are no currency holidays during the week of June 18 22, what would be the value dates of the two swap legs?

  A. 18 June against 19 June
  B. 19 June against 20 June
  C. 20 June against 21 June
  D. 21 June against 22 June
  B. 19 June against 20 June

• Question 209:

  What is the maximum term London Certificates of Deposit are issued?

  A. 12 months
  B. 18 months
  C. 5 years
  D. 2 years
  C. 5 years

• Question 210:

  When completing a nostro reconciliation, what does an outstanding statement credit possibly signify?

  A. the non-receipt of funds from a counterparty
  B. the non-payment of funds to a counterparty
  C. the duplicate payment of funds by a counterparty
  D. the duplicate receipt of funds from a counterparty
  D. the duplicate receipt of funds from a counterparty