ACI 3I0-013 - ACI Operations Certificate challenging

Amendments to customer standing data should be subject to 4 eyes control and only changed if the appropriately authorized documentation is provided.

The set up of settlement instructions and the confirmation method should be fixed when setting the first transaction.

No trading should be done without first identifying and setting up the counterparty.

Counterparty identification and setup of settlement instructions should be completed in less than 2 working days.

You will pay a cash settlement to the counterparty

You will receive the cash settlement

There is no cash settlement pending

There is insufficient information to make a determination

Confirmations should be issued to non-front office personnel only

All confirmations must be sent on the day following the trade date at the latest

Multiple confirmations sent through different distribution channels reduce potential errors

Counterparties should send confirmations, or positively affirm trades within 24 hours of the trade booking

A GBP account with another UK bank

A CHF account with a bank in Zurich

A CHF account that it holds for a customer in London

A GBP account that it holds for a bank in New York

To prevent that a failed order results in a failure to settle that day, which in turn would lead to an incompletely-reconciled account.

To facilitate the handling of complex security transactions.

In order to save data capacity in electronic archiving systems.

To anticipate the fact that clearing houses stop processing in the afternoon, whereas payment orders may still be processed until 6 p.m.

The price of the underlying instrument at the time of the transaction

The price at which the transaction on the underlying instrument will be carried out if the option is exercised

The price the buyer of the option pays to the seller when entering into the options trade

The price at which the two counterparties can closeout their position

You should make the payment in accordance with the SSI you are holding without referring to your dealer or contacting the counterparty

You should make the payment in accordance with the trade instructions

You should check the SSI with your dealer and contact the counterparty to seek his specific instructions

You should not make the payment

It is only permissible in derivatives markets

Both parties of a trade should send confirmations

It is recommended

It is only permissible when dealing value today

Keep the information to yourself

Tell your supervisor

Tell your work-mates but not your supervisor

Talk to the colleague in question

Pay AUD 2,447.65

Receive AUD 2,500.00

Pay AUD 2,481.39

Receive AUD 2,481.39