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ACI 3I0-013 - Questions & Answers

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Question 1
Single choice

You take a EUR deposit on Monday, 13 February.
Assuming there are no intervening bank holidays, what is the one-month maturity date?

A.

Monday, 13 March

B.

Tuesday, 14 March

C.

Wednesday, 15 March

D.

Thursday, 16 March

Question 2
Single choice

A broker:

A.

Is an agent who mediates between buyers and sellers, for their mutual financial interest

B.

Controls country limits in cooperation with the compliance officer

C.

Is responsible for reducing transaction fees

D.

Acts as a correspondent bank

Question 3
Single choice

What does "modified following business day convention" mean?

A.

A convention whereby a transaction is dated the following business day, unless that day extends into the next month, in which case it is dated the preceding business day

B.

A convention whereby a transaction is dated the following business day

C.

A convention whereby a transaction is dated the preceding business day

D.

A convention whereby a transaction is dated the next business day that corresponds to the same numerical day of the month as the preceding payment

Question 4
Single choice

What does ISDA stand for?

A.

International Swaps and Derivatives Association

B.

Integrated System Data Association

C.

International Swap Derivatives Agreement

D.

International Swaps Dealer Association

Question 5
Single choice

What is volatility?

A.

The difference between the current price of an asset and its previous close

B.

A statistical measure of price fluctuations as an annualized percentage

C.

The measure of the liquidity of a contract or security

D.

The difference between the annual high and low of a security

Question 6
Single choice

Which SWIFT message formats would you use for a foreign exchange confirmation and fixed money market confirmation, respectively?

A.

MT 400, MT 950

B.

MT 200, MT 100

C.

MT 300, MT 950

D.

MT 300, MT 320

Question 7
Single choice

When do you use a SWIFT message type 202?

A.

For a foreign exchange confirmation

B.

For multiple general financial institution transfers

C.

For a general financial institution transfer

D.

For a customer transfer

Question 8
Single choice

In the unexpected event that a public holiday is declared on the date a particular contract matures, what is the normal market practice?

A.

If that day is not the final trading day of the month, all contracts maturing on that day are extended to the next business day

B.

If that day is not the final trading day of the month, all contracts maturing on that day are shortened to the preceding business day

C.

All new maturity dates have to be agreed upon with the counterparties involved

D.

Decisions about the maturity dates of trading contracts are made by ACI's Committee for Professionalism on a case-by-case basis and must be adhered to

Question 9
Single choice

How are accounting entries usually generated?

A.

They are generated based on a code profile held for each product type on a time event basis.

B.

They are generated based on a code profile held for each front office staff member.

C.

They are generated based on the nature of instruments (debits = first priority / credits = second priority).

D.

They are generated in the morning at start of business when there is no direct link to other systems.

Question 10
Single choice

What is a SWIFT message type 210?

A.

A request for financial institution transfer

B.

A general financial institution transfer

C.

A financial institution transfer for its own account

D.

A notice to receive

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