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ACI 3I0-013 - ACI Operations Certificate challenging

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Page: 10 / 12
Total 386 questions

In what order would the currencies of the major currency pairs generally be quoted in forex?

A.

EUR/USD, USD/JPY, USD/GBP, USD/CHF, USD/CAD, USD/AUD

B.

EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD

C.

EUR/USD, USD/JPY, GBP/USD, USD/CHF, CAD/USD, AUD/USD

D.

EUR/USD, USD/JPY, GBP/USD, USD/CHF, CAD/USD, USD/AUD

If a money market dealer considers placing a given amount at another bank, he must first of all check:

A.

The level of the prevailing market rates

B.

If the funds are available on the nostro account of the bank

C.

If they will be able to generate the outgoing payment

D.

The availability on the country limit and the credit line of his counterparty

Which of the following is not considered a best practice concerning access to electronic trading systems?

A.

The access to systems internally and at the client interface is to be controlled strictly and solely by front office risk managers

B.

The sharing of user ids and passwords should be prohibited

C.

The ability to initiate deals via e-trading must be subject to documented controls and appropriate approval rights

D.

Participants should only use their own user id and password

The fixing of a EUR FRA usually takes place:

A.

At the end of the FRA period

B.

When the deal is done

C.

Two business days before the start date of the FRA period

D.

On the third Monday of the contract month

How could you close out a futures contract?

A.

Reverse and cash trade

B.

Cash and carry

C.

Reverse cash and carry

D.

Offset

Operational efficiency, STP rates, quality and control effectiveness are the main indicators of operational performance. With whom and how often should they be reviewed?

A.

On a monthly basis with senior management and operations

B.

At least monthly with compliance and risk management; on a more frequent and regular basis within operations

C.

Quarterly with senior management and on a monthly basis within operations

D.

At least monthly with senior management and on a more frequent and regular basis within operations

Which of the following steps describes the correct sequence for running an investigation?

A.

1. Gather all the required documentation; 2, Reach an agreement with your dealer; 3. Send a claim to the counterparty

B.

1. Inform the compliance officer; 2, Gather all required documentation; 3. Contact the counterparty's dealer; 4. Reach an agreement with the counterparty's dealer

C.

1. Contact the banks' attorney; 2. Ask your dealer to amend or to cancel the deal; 3, ask the accounting department to the adjust value date

D.

1. Gather all required documentation; 2. Determine the origin of any discrepancy 3, get in contact with the counterparty and submit the facts 4. Reach an agreement with the counterparty

Depending on the interest rates of the two currencies involved, the forward foreign exchange rate:

A.

Can only be higher or equal to the current spot rate

B.

Can only be lower or equal to the current spot rate

C.

Can never be equal to the current spot rate

D.

Can either be higher, lower or equal to the current spot rate

Your agent bank accepts your back-valuation request for 1 day on an amount of EUR 75,000,000.00. EONIA is 1.312% and the ECB marginal lending facility rate is 1.50%. Applying conventional administration fees, how much will this be charged?

A.

EUR 3,354.17

B.

EUR 3,225.00

C.

EUR 3,125.00

D.

EUR 2,833.33

What is the rate of interest paid by the European Central Bank on cash amounts exceeding the minimum reserve requirement (excess reserves)?

A.

EONIA - 5 basis points

B.

EONIA flat

C.

0%

D.

EONIA -10 basis points