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3I0-013
ACI Operations Certificate challenging Questions and Answers

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Viewing page 10 out of 12 pages

Viewing questions 91-100 out of questions

Questions # 91:

A yield curve can be drawn for a wide variety of financial instruments. The most widely analyzed yield curves are those for benchmark instruments such as:

Options:

Consumption and inflation levels

Money market rates and government bonds

Mortgage rates

Commodities

Answer

Questions # 92:

Which action results in the highest STP-Rate?

Options:

The daily reconciliation of nostro accounts

The use of a Continuous Linked Settlement

The use of internal limits regulations such as counterparty limits and country limits

A trade confirmation check

Answer

Questions # 93:

A UK Treasury Bill has 91 days to maturity. Its redemption value is GBP 100,000.00, What is the purchase price of this bill using a discount rate of 1,25% per annum?

Options:

GBP 98,750.00

GBP 100,000.00

GBP 99,688.36

GBP 99,684.03

Answer

Questions # 94:

Your money market dealer has lent NZD 5,000,000.00 at 3,00% for 6 months (183 days). How much must the counterparty pay back to you in capital plus accrued interest at maturity?

Options:

NZD 5,000,000.00

NZD 5,076,205.48

NZD 5,076,250.00

NZD 5,075,000.00

Answer

Questions # 95:

What risks arise from not receiving the securities purchased or not receiving payment for securities sold?

Options:

Liquidity, market and counterparty risk

Only a funding risk

Only a liquidity and a funding risk

Settlement, funding and liquidity risk

Answer

Questions # 96:

What normally happens on the settlement date of a USD/TWD non deliverable forward (NDF)?

Options:

Both currencies (USD and TWO) are exchanged

The notional amount is paid out in USD

A cash settlement is paid out in TVVD

A cash settlement is paid out in USD

Answer

Questions # 97:

The depositary of your securities:

Options:

Is responsible only for the settlement of those securities

Is responsible only for safeguarding the securities that you have on your account

Is responsible for safeguarding both the securities that you have on your account and their settlement

Is never responsible for safeguarding securities

Answer

Questions # 98:

A corporate client instructs you to make a USD payment to his account in London. What two message types should you send?

Options:

MT 202 and MT 103

MT 202 and MT 210

MT 200 and MT 103

MT 103 and MT 210

Answer

Questions # 99:

What ought to be done in the event a trade erroneously occurs at an off-market rate?

Options:

By agreement between the two counterparties, the trade must be cancelled as soon as practically possible since a rate amendment is prohibited.

By agreement between the two counterparts, the trade should, as soon as practically possible, either be cancelled or have its rate amended to an appropriate market rate.

The off-market rate should be adjusted as soon as possible to the appropriate current market rate and a new authenticated SWIFT confirmation sent immediately to the counterparty.

Nothing need be done, since once a trade is agreed to by the front office it is a binding agreement for both counterparties.

Answer

Questions # 100:

Which of the following statements best describes an asset swap?