ACI 3I0-010 Exam Questions Instant Access

Question 1

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

Aa Medium Term Note

Ba Bankers Acceptance

Ca Money Market Deposit

Da Treasury Bill

Answer : C

Question 2

The CLS-Bank (Continuous Linked Settlement) is one of the ways through which FX transactions can be settled. Why was this bank founded?

Ato simplify domestic payments

Bto handle interbank liquidity more efficiently

Cto accelerate cross-border payments

Dto minimise settlement risks

Answer : D

Question 3

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?

AUSD 31,300,000.00

BUSD 31,250,000.00

CEUR 25,000,000.00

DUSD 19,968,051.12

Answer : A

Question 4

You find that you have paid an amount to the wrong counterparty. What action should you take?

Await until the counterparty contacts you to before deciding what to do

Bimmediately contact the counterparty to find the most appropriate way to have the funds returned as quickly as possible to minimize the loss of value days

Cask the counterparty to keep the money and to place (invest) it at a special rate

Dask your accounting department to book the amount as a loss

Answer : B

Question 5

A broker:

Ais an agent who mediates between buyers and sellers, for their mutual financial interest

Bcontrols country limits in cooperation with the compliance officer

Cis responsible for reducing transaction fees

Dacts as a correspondent bank

Answer : A

Question 6

The control failings involving Barings and Daiwa highlight the critical importance of what operational risk management practice?

Athe taping of conversations between counterparties

Bmodel signing-off and implementation controls

Cthe separation between front/back office duties

Dthe existence of contingency plans

Answer : C

Question 7

If the 90-day EUR rate is 3.10% and the 180-day is 3.50%, what is the 120-day rate using straight-line interpolation?

A3.20%

B3.21%

C3.23%

D3.30%

Answer : C

ACI Operations Certificate 3I0-010 Exam Questions