ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 241:

  Which one of the following bonds uses variable rates?

  A. bond warrants
  B. reverse convertibles
  C. zero coupons
  D. FRN Minima's
  D. FRN Minima's

• Question 242:

  FX Swaps can be used to:

  A. swap a fixed leg into a variable leg
  B. buy or sell the currency of your choice
  C. arbitrage between foreign exchange and interest rates
  D. arbitrage between deposits and forward points
  D. arbitrage between deposits and forward points

• Question 243:

  In the absence of his normal dealer contact, a counterparty calls the back office and asks the clerk for his opinion about how long his money should be placed on deposit. What action should the back office clerk take?

  A. He should give his opinion.
  B. He should give his opinion and tell the counterparty that he is not qualified to do so.
  C. He should tell the counterparty that he is not qualified to give an opinion and refer the counterparty to another dealer.
  D. He should give his opinion and refer the counterparty to another dealer.
  C. He should tell the counterparty that he is not qualified to give an opinion and refer the counterparty to another dealer.

• Question 244:

  A "basis point", expressed as a percentage, is: A. 1%

  B. 0.01%

  C. 0.001%

  D. 0.0001%

  Correct Answer. B
  B

• Question 245:

  What is the first task of the cash positions keeper every day?

  A. makes sure the opening position for the current day is the agreed and reconciled position from the previous day
  B. makes sure the previous days pending position is the opening position for the current day
  C. He/she checks to see which dealer is in charge of which currency for that day
  D. He/she checks to see which countries have bank holidays that day
  A. makes sure the opening position for the current day is the agreed and reconciled position from the previous day

• Question 246:

  Which SWIFT message formats would you use for a foreign exchange confirmation and fixed money market confirmation, respectively?

  A. MT 400, MT 950
  B. MT 200, MT 100
  C. MT 300, MT 950
  D. MT 300, MT 320
  D. MT 300, MT 320

• Question 247:

  A counterparty pays your bank USD 10,000,000.00 5 days late requiring you to pay overdraft charges of 8% p. a. What expenses would you claim from the counterparty in GBP at an exchange rate of 1.6000?

  A. GBP 6,944. 44
  B. GBP 7,944. 44
  C. GBP 17,777. 77
  D. GBP 6,849.32
  A. GBP 6,944. 44

• Question 248:

  With respect to financial payments, what does "bridge" mean?

  A. it refers to an electronic settlement between Euroclear and Clearstream
  B. it is an electronic settlement between US Clear and Clearcom
  C. it refers to the relationship between two nostro account institutions
  D. it designates the exchange of payment orders between a nostro and a vostro account
  A. it refers to an electronic settlement between Euroclear and Clearstream

• Question 249:

  The yield of a 1 month FRN in EUR depends on

  A. the level of short-term EUR interest rates
  B. the level of medium-term EUR interest rates
  C. the slope of EUR yield curve
  D. the level of long-term EUR interest rates
  A. the level of short-term EUR interest rates

• Question 250:

  The process used to disguise the trail of laundered funds within the financial system is known as:

  A. streamlining
  B. layering
  C. reinvesting
  D. channeling
  B. layering