ACI 3I0-010 Online Practice Questions and Exam Preparation

ACI 3I0-010 Online Questions & Answers

• Question 31:

  What are the principal functionalities of interbank funds transfer systems?

  A. the matching of confirmations
  B. the dealing and archiving of payment orders
  C. reconciliation and correspondent banking
  D. the transfer of information and settlement
  D. the transfer of information and settlement

• Question 32:

  For the third time in a month, a back office clerk has been questioned by one of his spot FX dealers about back office payment authorization and confirmation procedures. What should he/she do?

  A. He/she should report this to his/her supervisor
  B. He/she should respond to the questions
  C. He/she should avoid the dealer
  D. He/she should refuse to answer the questions
  A. He/she should report this to his/her supervisor

• Question 33:

  How is the price of an interest rate swap (IRS) expressed?

  A. as an exchange rate
  B. as a cash flow
  C. as a margin added to the floating rate
  D. as an interest rate expressed in percentage terms
  D. as an interest rate expressed in percentage terms

• Question 34:

  Why is a failed trade log important?

  A. it helps the risk manager to adjust the limits
  B. it allows the cash positions keeper to retrace the arrival of the funds
  C. it is essential in determining compensation arrangements at a later date
  D. the auditors require these logs for their statistics
  C. it is essential in determining compensation arrangements at a later date

• Question 35:

  Where is the bank with the BIC-address "BOJPJPJT" located?

  A. Jamaica
  B. Jordan
  C. Bosnia
  D. Japan
  D. Japan

• Question 36:

  What is the meaning of "good value" in FX?

  A. the funds must be in the nostro account of the beneficiary institution by close of business on the agreed upon value date
  B. the funds must be in the nostro account of the beneficiary institution by the beginning of the next business day
  C. the value of interest to be received is higher than the value of fees to be paid
  D. the funds must be in the internal cash account of the clearing house by close of business on the agreed upon value date
  A. the funds must be in the nostro account of the beneficiary institution by close of business on the agreed upon value date

• Question 37:

  The "value date" is best described as:

  A. The date a trade is undertaken
  B. The date the fixing rate is agreed upon
  C. The date the settlement occurs
  D. The date confirmations are exchanged between counterparties
  C. The date the settlement occurs

• Question 38:

  Which country does the BIC-address BKENGB33CUS belong to?

  A. the United Kingdom
  B. the United States of America
  C. Germany
  D. Gambia
  A. the United Kingdom

• Question 39:

  Which of the following best describes TARGET?

  A. the inter-linking mechanism that connects national RTGS payments systems in EU member states
  B. the system used in Germany for settling high value domestic securities transactions
  C. the pan-Europe netting system used for reducing credit risk for derivative transactions
  D. the system to be used by the Euro Bankers Association to clear cross border Euro payments
  A. the inter-linking mechanism that connects national RTGS payments systems in EU member states

• Question 40:

  You are in the pub with a friend who works for another financial institution. The friend asks you for information about a mutual customer's forward foreign exchange dealing volumes. What should you do?

  A. tell him all you know
  B. tell him nothing
  C. give him some of the information because the deal involves a mutual customer
  D. tell him you will investigate and get back to him with the information
  B. tell him nothing