ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 281:

  Physical securities reconciliation software packages are based on:

  A. SWIFT message type 5XX
  B. SWIFT message type 2XX
  C. SWIFT message type 320
  D. SWIFT message type 400
  A. SWIFT message type 5XX

• Question 282:

  If you execute a sale of bonds, and the securities have not been delivered 2 days after you have received payment on the agreed settlement date, which of the following is correct:

  A. you will have to pay at least 2 days of funding costs on top of the coupon
  B. the counterparty will have to pay at least 2 days of interest charges on top of the coupon
  C. you have no debt to the counterparty
  D. the counterparty has a debt to you
  A. you will have to pay at least 2 days of funding costs on top of the coupon

• Question 283:

  What is the purpose of "internal cash reconciliation"?

  A. to control the banks cash and derivative positions
  B. to reconcile and control the cash balance for the Bank for International Settlements (BIS)
  C. to reconcile and control the cash balance for the central bank
  D. cash forecasting, cash collateral and cash positions control
  D. cash forecasting, cash collateral and cash positions control

• Question 284:

  Forward points represent:

  A. the value of a currency against its base
  B. largely the interest rate differential between two currencies
  C. the time/value ratio of one currency versus another
  D. the future value of a currency
  B. largely the interest rate differential between two currencies

• Question 285:

  The interest earned on a USD 5,000,000.00 money market deposit for 90 days is USD 62,500.00. What was the interest rate?

  A. 5. 07%
  B. 5. 06%
  C. 4. 93%
  D. 5. 00%
  D. 5. 00%

• Question 286:

  Why does The Model Code recommend the use of netting systems?

  A. to avoid too heavy a workload for operations staff
  B. to reduce settlement and credit risk
  C. to enhance the straight through processing
  D. to reduce the brokerage fees
  B. to reduce settlement and credit risk

• Question 287:

  A Certificate of Deposit (CD) was issued at 7%, which you now purchase at 5 3/4%. What would you expect to pay?

  A. the original face value of the CD
  B. more than the originally paid value
  C. less than the originally paid value
  D. there is too little information to decide
  B. more than the originally paid value

• Question 288:

  A middle or back office clerk receives an FX ticket in which the counterparty is not clearly identified. What should he/she do?

  A. keep the ticket in "stand-by mode" until a matching confirmation is received
  B. immediately refer the ticket to the compliance officer
  C. refer the ticket to the FX dealer for further details
  D. refer the ticket to the nostro account manager for further instructions
  C. refer the ticket to the FX dealer for further details

• Question 289:

  What are the communication channels most often used for investigations?

  A. secured videoconferencing
  B. mail, telex
  C. phone, SWIFT
  D. fax
  C. phone, SWIFT

• Question 290:

  Your dealers have made the following deals in spot USD/JPY: Sold USD 5,000,000.00 at 111.60 Bought USD 3,500,000.00 at 111.20 Bought USD 2,000,000.00 at 111.50 Sold USD 2,000,000.00 at 111.55 What is your position?

  A. Short USD 1,500,000.00 at 112. 60
  B. Short USD 3,500,000.00 at 111.75
  C. Long USD 1,500,000.00 at 111.10
  D. Short USD 1,500,000.00 at 111.55
  A. Short USD 1,500,000.00 at 112. 60