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Questions # 41:

Which of the following trades involves replacement risk?

Options:

A.

The purchase of shares through Eurex Clearing (payment against delivery)

B.

The purchase of an OTC call option

C.

The taking of call money

D.

A long position in Bund futures

Questions # 42:

What documents and/or information should you hold in order to start an investigation?

Options:

A.

From the counterparty: the trade confirmation, In-house: the trade confirmation, nostro reconciliation details, the dealing ticket and eventually dealing-system conversation printout

B.

From the counterparty: the dealers name and phone number. In-house: dealer's name as well as the exact time the deal was processed

C.

From the counterparty: the trade confirmation, In-house: the open item list, nostro reconciliation details and the dealing ticket

D.

From counterparty: the balance report and the trade confirmation; In-house: the dealing-system conversation printout

Questions # 43:

What is a bank required to do when entering into a new business relationship with a natural person?

Options:

A.

Inform the central bank of their country

B.

No action is required

C.

Verify the identity of the person

D.

Inform the risk management department

Questions # 44:

If a spot next EUR/USD FX Swap is traded on Monday, 18 August, and there are no holidays in the relevant currencies during the week of August 18 - 22 what would be the value dates of the two swap legs?

Options:

A.

18 -19 August

B.

20 August - 20 September

C.

20 - 21 August

D.

19 - 20 August

Questions # 45:

Which department is responsible for originating deals?

Options:

A.

The front office

B.

The back office

C.

The middle office

D.

The compliance department

Questions # 46:

The fixing of a EUR FRA usually takes place:

Options:

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

Questions # 47:

A callable bond attributes a right to:

Options:

A.

The lead manager to acquire the entire issue

B.

The lead manager to acquire the entire issue and the issuer to redeem the note at specified dates

C.

The issuer to redeem agreed upon quantities of the note at specified dates

D.

The note holder to sell the notes at specified dates

Questions # 48:

What is a feature of multilateral netting?

Options:

A.

There are no more than two participants involved in the netting process

B.

There is no redistribution of default risk

C.

There is a central clearing house

D.

No legal entity is required

Questions # 49:

For the third time in a month, a back office clerk has been questioned by one of his spot FX dealers about back office payment authorization and confirmation procedures. What should he/she do?

Options:

A.

He/she should report this to his/her supervisor

B.

He/she should respond to the questions

C.

He/she should avoid the dealer

D.

He/she should refuse to answer the questions

Questions # 50:

Which of the following statements about operational risk awareness is correct?

Options:

A.

It is good practice to collect and disclose incidents and near-misses for the future benefit of the professional community.

B.

It is good practice to collect and analyze incidents and near-misses so as to set up preventive action plans for the future.

C.

A report describing operational risks should be made at the request of the front office.

D.

A report describing operational risks should be made at least once a year and provided to the front office.

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