3I0-013 Exam Dumps - ACI Operations Certificate challenging

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Question # 33

When an over-the-counter broker executes an order for your bank, what information is required on the confirmation you are sent?

The price of the security

The price of the security; the role played by the broker

The price of the security; the role played by the broker; and the commission, if any, that was charged

The price of the security; the role played by the broker; the commission, if any, that was charged and the security that was bought or sold

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Question # 34

Why is the use of netting systems encouraged?

To avoid too heavy a workload for operations staff

To reduce settlement and credit risk

To enhance the straight through processing

To reduce the brokerage fees

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Question # 35

Payments to the wrong correspondent, payments in the wrong amount, late or duplicate payments are considered:

Transaction irregularities

Confirmation discrepancies

CIS mismatches

Settlement discrepancies

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Question # 36

Forward points represent:

The value of a currency against its base

Largely the interest rate differential between two currencies

The time/value ratio of one currency versus another

The future value of a currency

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Question # 37

Which of the following is the main objective of position-keeping?

Measuring market exposure

Defining capital adequacy

Evaluating country risk

Monitoring counterparty credit risk

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Question # 38

In settling a money market placing between your dealer and a counterparty, what would be the financial consequences of a payment made one day late?

The counterparty would cancel the deal

The bilateral limit with the counterparty would have to be adjusted

The counterparty would demand interest on the late payment

There are no adverse financial consequences

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Question # 39

When is a trade considered a binding agreement for the counterparties?

Once the trade is agreed to by both the front offices

As soon as one of the counterparties has confirmed the trade

Once the confirmation is accepted by both parties to a trade

As soon as the master agreement has been signed by both parties

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Question # 40

If a GBP/CHF trade is made on the spot foreign exchange market on Tuesday, when will the two currencies be settled if tomorrow (Wednesday) is a bank holiday in the U.K.?

Both currencies will be settled value date Friday

GBP will be settled value Friday, CHF value Thursday

Both currencies will be settled value Thursday

GBP will be settled value today, CHF will be settled value Friday

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