ACI - Operations Certificate - 3I0-010 Exam Practice Test

A. may be freely chosen by the quoting party as long as both parties agree on it

B. should always be fixed off the current spread in order not to be mistaken for a spot FX transaction

C. must always be fixed immediately at the current mid rate, to reflect the rate at the time the deal was made

D. should be fixed immediately within the current spread, to reflect current rates at the time the transaction was made

A. today against spot

B. tomorrow against the day after spot

C. tomorrow against spot

D. today against tomorrow

A. input the deal the following morning as requested by the Chief FX trader

B. refuse, input the deal and tell another spot trader

C. refuse, input the deal and report the incident to your superior

D. refuse, input the deal as normal but keep the request to yourself

A. SWIFT

B. EAF

C. RTGS

D. EBA

A. because the most recent figures have to be published in the balance report

B. It allows management to see what items are pending by value and counterparty, but also how long items have been outstanding and whether there is an improvement in the pace of reconciliations.

C. It allows reconciliation staff to check the bilateral limits with counterparties and to adjust these limits as necessary

D. It allows the compliance officer to see how often the reconciliation staff has claimed for an outstanding item

A. to invest funds at the highest available interest rate

B. to keep the balance or position of the accounts or nostros in each currency representing the accounts held by the bank's agents

C. to keep the multilateral limits updated

D. to keep the management informed about interest rate developments

A. if your nostro account balance at the end of the month is less than the amount of fees paid

B. If your nostro account shows a debit balance you will be charged overdraft interest on the remaining debit amount.

C. Overdraft interest is charged if your collateral at the central bank is lower than your cash balance

D. if the counterparty's fees are higher than yours

A. the rate at which Euro interbank term deposits are offered by one prime bank to another prime bank published at 11.00 a.m. CET

B. the interest reference rate for the Euro calculated daily from the rates of 16 London banks

C. the rate at which Euro interbank term deposits are offered by prime banks to corporate published at 11.00 a.m. CET

D. the interest reference rate for all major currencies calculated daily from the rates of panel banks from EU countries

A. as soon as possible

B. the same day they are executed

C. within an hour of execution

D. within 24 hours of execution

A. ZAR

B. TRY

C. CNY

D. MYR

A. MT 2XX

B. MT 1XX

C. MT 5XX

D. MT 3XX

A. USD 3,619,487.12

B. USD 3,618,523.32

C. USD 5,453,650.00

D. USD 5,472,500.00

A. an instrument for managing credit rate risk

B. the forward leg of an FX swap

C. an instrument for managing interest rate risk

D. an instrument that never impacts P/L