ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 301:

  Which interest convention is used in the bond market for GBP?

  A. ACT/360
  B. ACT/ACT
  C. 360/360
  D. ACT/365
  B. ACT/ACT

• Question 302:

  Which of the following processes are offered by the CLS settlement system?

  A. the close-out process
  B. the customer matching process
  C. the settlement process
  D. the securities lending process
  C. the settlement process

• Question 303:

  What is the advantage of instantaneous matching?

  A. it gives the counterparty more time to cancel a deal
  B. it reduces errors and costs
  C. it gives front-office staff more time to process the payment orders
  D. it increases transaction costs
  B. it reduces errors and costs

• Question 304:

  What is an essential feature of nostro reconciliations?

  A. that a daily nostro reconciliation report is sent out to the correspondent bank
  B. that they are performed before the next business day
  C. that they are performed in a timely and efficient way
  D. that open items are booked on an internal account
  C. that they are performed in a timely and efficient way

• Question 305:

  Today is Friday, 28 July. Considering that there is a bank holiday in Switzerland on Tuesday, 1 August, what is the value date of a money market deal in CHF?

  A. 31 July
  B. 1 August
  C. 2 August
  D. 3 August
  C. 2 August

• Question 306:

  Under normal circumstances, which of the following is a non-negotiable instrument?

  A. a Medium Term Note
  B. a Bankers Acceptance
  C. a Money Market Deposit
  D. a Treasury Bill
  C. a Money Market Deposit

• Question 307:

  You take a EUR deposit on Monday, 13 February. Assuming there is no intervening bank holidays, what is the one-month maturity date?

  A. Monday, 13 March
  B. Tuesday, 14 March
  C. Wednesday, 15 March
  D. Thursday, 16 March
  C. Wednesday, 15 March

• Question 308:

  What is the "spread" in an interest rate swap (IRS)?

  A. the interest rate differential between the fixed and floating leg of the swap
  B. the brokerage fee for an interest rate swap transaction
  C. the payment made when a swap is terminated
  D. the difference between the swap rate and the benchmark government yield
  D. the difference between the swap rate and the benchmark government yield

• Question 309:

  Your FX swap dealer bought and sold 1 month EUR/USD 25,000,000.00; rates were set to 1.2500 against 1.2520. What payment is your bank expecting in a month from now?

  A. USD 31,300,000.00
  B. USD 31,250,000.00
  C. EUR 25,000,000.00
  D. USD 19,968,051.12
  A. USD 31,300,000.00

• Question 310:

  You have just opened a position in EUR/USD that you run overnight. What risk is present?

  A. settlement, counterparty and equity risk
  B. only counterparty risk
  C. only currency and interest rate risks
  D. settlement, counterparty and market risk
  D. settlement, counterparty and market risk