ACI 3I0-013 - ACI Operations Certificate challenging

The maximum daily price change permissible on the futures exchange

A temporary suspension of trading at a futures exchange

The initial margin requirements at a futures exchange

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

By the end of the trading day

On the next business day

On the value date

As soon as they become apparent

Front office and back office should have different management reporting lines

Confirmation discrepancies should be investigated within 48 hours

Confirmations need only be exchanged if the amount involved is higher than USD 1,000,000.00 or equivalent

Money market and FX dealers should have different management reporting lines

The head of trading

The head of IT

The board of directors (top management)

One cannot say, it depends on the financial institution

Internal transactions should not be confirmed as there is no credit risk involved

Chasers on internal confirmations should be sent less frequently than those for external confirmations

Internal confirmations should be subject to the same procedures as those in place for external clients

Control procedures should be relaxed generally for internal confirmations

7.61%

6.40%

7%

The yield cannot be determined

Once the trade is agreed to by both the front offices

As soon as one of the counterparties has confirmed the trade

Once the confirmation is accepted by both parties to a trade

As soon as the master agreement has been signed by both parties

Inform the central bank of their country

No action is required

Verify the identity of the person

Inform the risk management department

The front office

The back office (Operations)

The U department

The middle office

The level of interest rates in the base currency

The level of interest rates in the counter currency

The differential between the interest rates in the two currencies

The current volatility in the FX markets