Effective Study Techniques for the ACI 3I0-013 Exam

If there is more than one FX trade with a single counterparty to settle in the identical currencies, then both sides should bilaterally agree to settle the trades outside of CLS Bank on a net basis.

If there is only one FX trade with a single counterparty to settle in the identical currencies, then either side can unilaterally decide to settle the trade outside of CLS Bank on a net basis.

If there is more than one FX trade with a single counterparty to settle in the identical currencies, then both sides should bilaterally agree to settle the trade outside CLS Bank on a gross basis.

If there is more than one FX trade with a single counterparty to settle in the identical currencies, then either side can unilaterally instruct the CLS Bank to settle the trades.

17:30 (5:30 p.m.) Eastern Time (ET)

18:00 (6:00 p.m.) Eastern Time (ET)

18:30 (6:30 p.m.) Eastern Time (ET)

19:00 (7:00 p.m.) Eastern Time (ET)

The face value of 5,000,000.00

More than 5,000,000.00

Less than 5,000,000.00

Cannot decide based on the information supplied

Always close to 100%

Above 100%

Below 100%

Always precisely 100%

EBA

CLS

TARGET2

CHAPS

Profit GBP 240,000.00

Loss GBP 240,000.00

Profit USD 240,000.00

Loss USD 240,000.00

An instrument for managing interest rate risk

An instrument for managing credit rate risk

An instrument that never impacts P/L

The forward leg of an FX swap

Short EUR 2,450,000.00 at 1.3528

Long EUR 2,450,000.00 at 1.3528

Long EUR 2,000,000.00 at 1.3532

Long EUR 2,450,000.00 at 1.3525

Amend the rates as requested

Refuse to amend the rates, but say nothing

Refuse and report the incident to your superior

Refuse and report the incident to your colleague

Securities are first delivered and then the payment is processed

The payment order is first blocked and then the payout of securities is processed

Securities are exchanged into a defined currency

Delivery is insured if and only if payment occurs