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ACI 3I0-013 - ACI Operations Certificate challenging

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Total 386 questions

When do you use a SWIFT message type 202?

A.

For a foreign exchange confirmation

B.

For multiple general financial institution transfers

C.

For a general financial institution transfer

D.

For a customer transfer

Which of the following types of institutions do not generally make up the “buy side”?

A.

Corporate and governments

B.

Asset managers and insurance firms

C.

Retail banks and commercial banks

D.

Mutual and hedge funds

When would you use a SWIFT message type 103?

A.

For a foreign exchange confirmation

B.

For a multiple general financial institution transfer

C.

For a general financial institution transfer

D.

For a customer transfer

Which kind of report is a reconciliation system unable to produce?

A.

A “probable matched items report” (a report in which most fields match but there are some discrepancies)

B.

A “calculated fees report” (a report of the expected fees owed)

C.

A “matched items report” (a report of all fields that match)

D.

An “unmatched items report” (a report of items for which one is unable to find matches)

As to futures contracts:

A.

The maintenance margin is a predetermined fraction of initial margin

B.

The initial margin is a predetermined fraction of maintenance margin

C.

The maintenance margin represents the brokerage costs

D.

The maintenance margin represents management fees

The trade life cycle of a treasury deal starts with input and ends with:

A.

Accounting

B.

Adjustment of bilateral limits

C.

Netting

D.

Nostro reconciliation

In the absence of his normal dealer contact, a counterparty calls the back office and asks the clerk for his opinion about how long his money should be placed on deposit. What action should the back office clerk take?

A.

He should give his opinion.

B.

He should give his opinion and tell the counterparty that he is not qualified to do so.

C.

He should tell the counterparty that he is not qualified to give an opinion and refer the counterparty to another dealer.

D.

He should give his opinion and refer the counterparty to another dealer.

Which of the following are primary markets?

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

In trade confirmation, which one of the following statements about “matching” is correct?

A.

Matching should be performed by no later than the day after trading day

B.

Matching processes are manual and may not be automated

C.

Matching should be performed as soon as possible upon receipt of the confirmation

D.

Confirmation matching should be a post-settlement workflow activity

The organization “SWIFT” belongs to:

A.

The members of the system (member-owned cooperative)

B.

The European Banking Federation based in Brussels

C.

The European Central Bank

D.

The IMF