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Free ACI 3I0-013 Practice Exam with Questions & Answers | Set: 12

Questions 111

Which of the following statements about the time frame for claims is incorrect?

Options:
A.

Claims after 30 days of the actual settlement date need not to be submitted.

B.

Claims should be sent to the counterparty as soon as possible and within 30 days at the latest.

C.

Claims must be sent to the counterparty within 15 days of the actual settlement date,

D.

The maximum time limit for a claim submission is 60 days.

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Questions 112

Why is the use of netting systems encouraged?

Options:
A.

To avoid too heavy a workload for operations staff

B.

To reduce settlement and credit risk

C.

To enhance the straight through processing

D.

To reduce the brokerage fees

Questions 113

What is a convertible security?

Options:
A.

A security the owner has the right to convert

B.

A security the issuer has the right to redeem

C.

A security the owner has the right to redeem

D.

A security the issuer has the right to convert

Questions 114

Generally, "initial margin" means:

Options:
A.

The notional amount of a contract

B.

A deposit amount per contract that is determined by the futures exchange

C.

The maximum net loss during the contract period

D.

The minimum net loss during the contract period

Questions 115

What is a "tick" in the futures markets?

Options:
A.

The maximum daily price change permissible on the futures exchange

B.

A temporary suspension of trading at a futures exchange

C.

The initial margin requirements at a futures exchange

D.

The minimum fluctuation in price allowed for a futures contract as specified by the contract terms

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