3I0-013 ACI Operations Certificate challenging exact Exam Questions

ACI Operations Certificate challenging

Last Update 8 hours ago Total Questions : 386

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Question # 41

On Friday, your trader lends GBP 10,000,000.00 overnight at 0.60%. The instructions are for repayment of principal + interest. How much would you expect to be repaid?

GBP 10,000,500.00

GBP 10,000,164.38

GBP 10,000,493.15

GBP 10,000,166.67

Question # 42

Which of the following statements concerning "account reconciliations" is incorrect?

Account reconciliations are necessary for the early detection of missing, failed or erroneous entries.

Custody accounts should be reconciled after each account movement or at least once a month.

Reconciliations related to transactions and balances should only be conducted for cash accounts.

Cash accounts should be reconciled as soon as an updated account statement is available.

Question # 43

Which of the following statements is correct?

The settlement of a FRA is paid at maturity date.

The settlement amount is paid at the trade date of a FRA.

The cash settlement amount on a FRA is usually a discounted amount.

The settlement amount on a FRA is not based on the LIBOR for the relevant period.

Question # 44

Rising interest rates will cause:

A higher volume on settlement

Government borrowing to fall

Bond prices to rise in response to higher interest rates

Bond prices to fall

Question # 45

Which interest convention is used in the bond market for GBP?

ACT/360

ACT/ACT

360/360

ACT/365

Question # 46

Which SWIFT message should be used to advise the netting position of a currency resulting from FX, NDF, options and other trades?

MTn99

MT300

MT370

MT670/671

Question # 47

A dealer belongs to:

The compliance staff

The middle office staff

The front office staff

The back office staff

Question # 48

You are an issuer of a straight bond and you want to change your exposure from a fixed rate to a floating rate because you expect a fail in interest rates. What would you do?

Buy an IRS

Sell an IRS

Buy a FRA

Do nothing because the bond coupon is already a fixed rate