ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 261:

  Settlement prices on futures contracts are

  A. official prices calculated by the exchange at the close of trading for the purpose of making margin calculations
  B. official prices calculated by a panel of central banks
  C. official prices calculated by the central bank where the stock exchange is located
  D. never used
  A. official prices calculated by the exchange at the close of trading for the purpose of making margin calculations

• Question 262:

  For futures contracts quoted on an exchange:

  A. the maintenance margin is a predetermined fraction of initial margin
  B. the initial margin is a predetermined fraction of maintenance margin
  C. the maintenance margin represents the brokerage costs
  D. the maintenance margin represents management fees
  A. the maintenance margin is a predetermined fraction of initial margin

• Question 263:

  When completing a nostro reconciliation, what does an unresolved ledger debit 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 to a counterparty
  D. the duplicate receipt of funds from a counterparty
  A. the non-receipt of funds from a counterparty

• Question 264:

  What is a bank required to do when entering into a new business relationship with a natural person?

  A. inform the central bank of their country
  B. no action is required
  C. verify the identity of the person
  D. inform the compliance department
  C. verify the identity of the person

• Question 265:

  If you apply a margin of 50 basis points to an interbank offered rate of 4 1/8%, what is the customer rate?

  A. 3 5/8%
  B. 4. 62%
  C. 4 5/8%
  D. 4 3/8%
  C. 4 5/8%

• Question 266:

  On Monday a dealer in a bank in Switzerland buys USD 5,000,000.00 against JPY spot. Value date of this spot transaction will be Wednesday,

  A. assuming neither Tuesday nor Wednesday are bank holidays in Switzerland
  B. assuming that neither Tuesday nor Wednesday are bank holidays in Japan
  C. assuming neither Tuesday nor Wednesday are bank holidays in the United States
  D. assuming neither Tuesday nor Wednesday are bank holidays in either Japan or the United States
  D. assuming neither Tuesday nor Wednesday are bank holidays in either Japan or the United States

• Question 267:

  Which of the following is characteristic of derivative instruments?

  A. trades are executed in nominal amounts
  B. derivates are bought and sold only over the counter (OTC)
  C. the final settlement of a derivates trade can only be made by physical delivery
  D. the accounting for derivative instruments is off balance sheet
  D. the accounting for derivative instruments is off balance sheet

• Question 268:

  Which two countries are not participating in TARGET2?

  A. Poland and Sweden
  B. Luxembourg and Great Britain
  C. Sweden and Great Britain
  D. Poland and Luxembourg
  C. Sweden and Great Britain

• Question 269:

  Your money market dealer has accepted a deposit of EUR 10,000,000.00 at 2 3/8% for 12 months (365 days). How much will you have to pay back in capital plus accrued interest at maturity?

  A. EUR 10,240,799.00
  B. EUR 240,291.67
  C. EUR 10,237,500.00
  D. EUR 10,240,798.61
  D. EUR 10,240,798.61

• Question 270:

  To ensure effective risk management within a large financial institution, the head of risk management should report to:

  A. the head of trading
  B. the head of IT
  C. the board of directors (top management)
  D. one cannot say, it depends on the financial institution
  C. the board of directors (top management)