ACI Operations Certificate challenging (3I0-013) Practice Test

Questions # 71:

You have been given collateral. In which case would you be least concerned about insisting on a “haircut”?

Options:

Non-cash emerging markets collateral

Cash collateral in JPY, your base currency is GBP

Cash collateral in USD, your base currency is USD

Non-cash high yield collateral

Questions # 72:

What is the purpose of “internal cash reconciliation”?

Options:

To control the bank’s cash and derivative positions

To reconcile and control the cash balance for the Bank for International Settlements (BIS)

To reconcile and control the cash balance for the central bank

Cash forecasting, cash collateral and cash positions control

Questions # 73:

When is the settlement amount of a FRA normally payable?

Options:

At the beginning of the forward period

On the trade date

On the maturity (final) date

At any time before the contract’s maturity date

Questions # 74:

Which interest rate is to be applied in the calculation methodology for back-valuations in EUR?

Options:

The flat ECB marginal lending facility rate

The ECB marginal lending facility rate plus 25 b.p.

The average of each day’s EONIA rate minus 25 b.p.

The average of each day’s EONIA rate plus 25 b.p. unless that is higher than the ECB marginal lending facility rate

Questions # 75:

Which interest rates are used to calculate the exchange rate of an outright transaction value tomorrow (over tom)?

Options:

The overnight interest rates of both currencies

The spot next interest rates of both currencies

The one week interest rates of both currencies

The torn next interest rates of both currencies

Questions # 76:

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

Options:

Accounting

Adjustment of bilateral limits

Netting

Nostro reconciliation

Questions # 77:

You bought a 6x9 EUR 8,000,000.00 FRA at 0.75%. Settlement is now due and 3 months (90 days) EURIBOR is 0.25%. What amount do you pay or receive?

Options:

Pay EUR 10,000.00

Receive EUR 10,000.00

Pay EUR 9,993.75

Receive EUR 9,993.75

Questions # 78:

What is a SWIFT message type 210?

Options:

A request for financial institution transfer

A general financial institution transfer

A financial institution transfer for its own account

A notice to receive

Questions # 79:

What is the most important feature of a brokerage reconciliation?

Options:

It must be processed once a year

Brokers’ bills should be reconciled during the night when no other system is running

Brokers’ bills must be reconciled promptly at month-end prior to payment

The existence of a single reference currency for all the brokers with whom your institution is dealing

Questions # 80:

Which of the following are considered money market, cash or derivative instruments?

Options:

Currency futures

Forward FXs

Currency options

Forward rate agreements (FRA)

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