ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 21:

  When is your delivery risk greatest on an FX deal executed today for value spot?

  A. today
  B. tomorrow
  C. after you have made irrevocable payment
  D. on settlement day
  C. after you have made irrevocable payment

• Question 22:

  Which clearing system allows a transfer to be settled with immediate finality?

  A. EAF
  B. EBA
  C. RTGS
  D. SWIFT
  C. RTGS

• Question 23:

  Loan/deposit input and mismatch analysis capability belongs to which module in a treasury system?

  A. the FX spot and forward dealing input and processing module
  B. standard back office features
  C. the money market dealing and processing module
  D. the securities trading and processing module
  C. the money market dealing and processing module

• Question 24:

  What is the main purpose of nostro reconciliations?

  A. to compare the cash entries that have passed through the banks internal nostro accounts, with the actual cash movements at the banks agent account. Thus, expected cash movements are reconciled with actual cash movements.
  B. to compare the securities entries that have passed through the banks internal nostro accounts, with the actual securities movements at the banks agent account
  C. to compare expected securities movements with actual securities movements
  D. to provide an overview of all the transactions listed by counterparty
  A. to compare the cash entries that have passed through the banks internal nostro accounts, with the actual cash movements at the banks agent account. Thus, expected cash movements are reconciled with actual cash movements.

• Question 25:

  The notional amount in an interest rate swap is:

  A. the sum of all the fixed and floating rate payments
  B. the net difference between fixed and floating rate payments
  C. the principal amount on which floating and fixed interest payments is calculated
  D. the amount at which the two counterparties can close-out their transaction
  C. the principal amount on which floating and fixed interest payments is calculated

• Question 26:

  A message received and accepted by SWIFT will be acknowledged with:

  A. NAK
  B. ACK
  C. PAC
  D. BAC
  B. ACK

• Question 27:

  If a 90-day interest rate is 5 1/4% and a 180-day interest rate is 6. 30%. What is the 126-day rate using straight-line interpolation?

  A. 5. 66%
  B. 5. 67%
  C. 5. 68%
  D. 5. 69%
  B. 5. 67%

• Question 28:

  What is a straddle?

  A. a level of risk on derivatives
  B. a type of option
  C. a derivative benchmark
  D. a derivative strategy using options
  D. a derivative strategy using options

• Question 29:

  If the back office staff receive a trade that is incomplete, which information is absolutely essential for processing the trade?

  A. the clearing house phone number
  B. the account number to which fees are booked
  C. the name of the counter parts dealer
  D. the name of the counterparty
  D. the name of the counterparty

• Question 30:

  What is the most important feature of a brokerage reconciliation?

  A. It must be processed once a year
  B. brokers' bills should be reconciled during the night when no other system is running
  C. brokers bills must be reconciled promptly at month-end prior to payment
  D. the existence of a single reference currency for all the brokers with whom your institution is dealing
  C. brokers bills must be reconciled promptly at month-end prior to payment