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

Questions 21

A payment is made from Germany to a second Euro zone country. Which international payment system would normally be used?

Options:
A.

TARGET2

B.

Euro Link System (ELS)

C.

Euroclear

D.

Clearstream

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Questions 22

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

Options:
A.

Settlement, counterparty and equity risk

B.

Only counterparty risk

C.

Only currency and interest rate risks

D.

Settlement, counterparty and market risk

Questions 23

What is an essential feature of nostro reconciliations?

Options:
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

Questions 24

What is the primary role of the position-keeper in a dealing room?

Options:
A.

To keep the multilateral limits updated

B.

To invest funds at the highest available interest rate

C.

To keep the balance or position of the accounts or nostros in each currency representing the accounts held by the bank’s agents

D.

To keep the management informed about interest rate developments

Questions 25

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

Options:
A.

Monday, 13 March

B.

Tuesday, 14 March

C.

Wednesday, 15 March

D.

Thursday, 16 March

Questions 26

Which of the following statements best describes collateral?

Options:
A.

Liquid assets pledged by one or both counterparties to the other to reduce credit risk

B.

Deposits placed by a commercial bank with a central bank to fulfill reserve asset ratios

C.

Any deposit placed by an institution with another institution of a lower credit rating

D.

Any cross border payment of currency

Questions 27

Which of the following are primary markets?

Options:
A.

Auction markets conducted by the U.S. Treasury for U.S. Treasury bills

B.

The repo market

C.

The foreign exchange market

D.

The over-the-counter market for U.S. Government Bonds

Questions 28

What does “modified following business day convention” mean?

Options:
A.

A convention whereby a transaction is dated the following business day, unless that day extends into the next month, in which case it is dated the preceding business day

B.

A convention whereby a transaction is dated the following business day

C.

A convention whereby a transaction is dated the preceding business day

D.

A convention whereby a transaction is dated the next business day that corresponds to the same numerical day of the month as the preceding payment

Questions 29

A Certificate of Deposit (CD) was issued at 2.50% which you now purchase at 1.75%. What would you expect to pay?

Options:
A.

The original face value of the CD

B.

More than the originally paid value

C.

Less than the originally paid value

D.

There is too little information to decide

Questions 30

Which of the following statements concerning "account reconciliations" is incorrect?

Options:
A.

Account reconciliations are necessary for the early detection of missing, failed or erroneous entries.

B.

Custody accounts should be reconciled after each account movement or at least once a month.

C.

Reconciliations related to transactions and balances should only be conducted for cash accounts.

D.

Cash accounts should be reconciled as soon as an updated account statement is available.

Exam Code: 3I0-013
Certification Provider: ACI
Exam Name: ACI Operations Certificate challenging
Last Update: Mar 28, 2025
Questions: 386

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