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Effective Study Techniques for the ACI 3I0-013 Exam

Questions 81

What is the standard for settlement of cross-border DVP systems?

Options:
A.

T+3, meaning that settlement is due three days after the deal date

B.

T+4, meaning that settlement is due four days after the deal date

C.

T+1, meaning that settlement is due one day after the deal date

D.

T+2, meaning that settlement is due two days after the deal date

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Questions 82

Physical securities reconciliation software packages are based on:

Options:
A.

SWIFT MT 5XX

B.

SWIFT MT 2XX

C.

SWIFT MT 320

D.

SWIFT MT 400

Questions 83

Which of the following best describes the main objective of the nostro reconciliation function?

Options:
A.

To ensure efficient cash management

B.

To ensure that ail receipts of foreign currency are made in a timely fashion

C.

To reduce the amounts paid in interest rate claims due to late payments

D.

To ensure that expected cash movements agree with the actual movements of currency

Questions 84

Why should the maturity profile of unreconciled items be frequently reviewed?

Options:
A.

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

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.

Because the most recent figures have to be published in the balance report

Questions 85

A plain vanilla interest rate swap (IRS) is:

Options:
A.

An agreement to exchange one stream of interest payments for another (fixed against floating)

B.

A fixed rate leg in one currency and a fixed rate leg in another currency

C.

Two floating rate legs on different indexes

D.

An agreement to borrow and lend one currency for another at two different value dates

Questions 86

A dealer belongs to:

Options:
A.

The compliance staff

B.

The middle office staff

C.

The front office staff

D.

The back office staff

Questions 87

How is a call money market transaction generally confirmed?

Options:
A.

By a SWIFT MT 320

B.

By a SWIFT MT 330

C.

By a SWIFT MT 340

D.

By a SWIFT MT 360

Questions 88

Which of the following is caracteristical of a CD?

Options:
A.

A CD is a certificate for a gold deposit

B.

The CD issuer can redeem the certificate at any time

C.

It is a non-negotiable instrument

D.

A CD is a certificate for a time deposit

Questions 89

What is the meaning of settlement (Herstatt) risk?

Options:
A.

The risk a payment order will not be processed due to a power failure in which the disaster recovery back-up system fails

B.

Any amount that is due to be received under a contract should be regarded as a settlement risk until final confirmation of receipt is confirmed

C.

The risk that settlement arrangements will be made with the wrong counterparty

D.

The risk of aborting settlement procedures due to the unavailability of back office staff

Questions 90

If you had bought USD/CNY at 6.2500 in a NDF and if it fixed at a spot rate of 6.3000, you would expect to:

Options:
A.

Pay a cash settlement in USD

B.

Pay a cash settlement in CNY

C.

Receive a cash settlement in USD

D.

Receive a cash settlement in CNY

Exam Code: 3I0-013
Certification Provider: ACI
Exam Name: ACI Operations Certificate challenging
Last Update: Jan 22, 2025
Questions: 386

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