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ACI Operations Certificate challenging

Last Update 8 hours ago Total Questions : 386

The ACI Operations Certificate challenging content is now fully updated, with all current exam questions added 8 hours ago. Deciding to include 3I0-013 practice exam questions in your study plan goes far beyond basic test preparation.

You'll find that our 3I0-013 exam questions frequently feature detailed scenarios and practical problem-solving exercises that directly mirror industry challenges. Engaging with these 3I0-013 sample sets allows you to effectively manage your time and pace yourself, giving you the ability to finish any ACI Operations Certificate challenging practice test comfortably within the allotted time.

Question # 51

The discount or premium on forward foreign exchange points is calculated based on:

A.

The level of interest rates in the base currency

B.

The level of interest rates in the counter currency

C.

The differential between the interest rates in the two currencies

D.

The current volatility in the FX markets

Question # 52

The "value date" is best described as:

A.

The date a trade is undertaken

B.

The date the fixing rate is agreed upon

C.

The date the settlement occurs

D.

The date confirmations are exchanged between counterparties

Question # 53

Which of the following currency risks could only be hedged by a non deliverable forward (NDF)?

A.

An exposure in Singapore Dollar (SGD)

B.

An exposure in Thai Baht (THB)

C.

An exposure in Philippine Peso (PHP)

D.

An exposure in Hong Kong Dollar (HKD)

Question # 54

A bank in Luxembourg has dealt an interbank money market trade with a Canadian bank and must pay USD. Whom does the Luxembourg bank you instruct for payment?

A.

Its correspondent bank in Canada

B.

Its national central bank

C.

The European Central Bank

D.

Its correspondent bank in the USA

Question # 55

Which department is responsible for originating deals?

A.

The front office

B.

The back office

C.

The middle office

D.

The compliance department

Question # 56

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?

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

Question # 57

Which of the following are products used in bank liquidity management?

A.

Money market taking and placing, sale and repurchase agreements (repos)

B.

Currency options and currency futures

C.

Spot FX transactions

D.

Caps, floors, collars, and interest rate futures

Question # 58

Which of the following statements best describes collateral?

A.

Liquid assets pledged by one or both counterparties to the other to reduce credit risk

B.

Deposits placed by a commercial bank with a central bank to fulfill reserve asset ratios

C.

Any deposit placed by an institution with another institution of a lower credit rating

D.

Any cross border payment of currency

Question # 59

Which of the following best describes the main benefit of the RTGS payment system?

A.

Final settlement of interbank funds transfers on a continuous, trade by trade basis throughout the day

B.

Lower costs through fewer payments passing through nostro accounts

C.

Lower costs through less labor intensive methods

D.

Reduced market risk due to smaller values of open positions

Question # 60

Which one of the following statements regarding the segregation of duties in the confirmation process is incorrect?

A.

Front office staff should not be able to modify confirmations.

B.

The staff who confirm trades should be distinct from those who agree to and execute trades.

C.

The process of confirming trades should be done only by Operations staff.

D.

Only staff who agree to and execute trades should be permitted to modify any details of the written confirmation.

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