3I0-010 by ACI Actual Free Exam Q&As

Question 1

The tenor of a bill of exchange describes:

A. the time to maturity of the bill B. the date on which the bill matures C. the original rate of the bill D. the rate at which the bill is bought

Discussion 0

Correct Answer: A Vote an answer

Question 2

What is a settlement date?

A. the date a deal is processed B. the last date by which the minimum reserve amount can be paid to the central bank C. the date, on which settlement must be made on the contracted amount or the differential amount of an operation D. the date by which the interest payment on an operation must be made

Discussion 0

Correct Answer: C Vote an answer

Question 3

Today, the spot value for a USD deposit is Wednesday, 29 February. What is the 4 months maturity date? (Assume that there are no bank holidays)

A. Friday, 28 June B. Monday, 1 July C. Thursday, 27 June D. Saturday, 29 June

Discussion 0

Correct Answer: A Vote an answer

Question 4

What are the three successive stages of money laundering?:

A. integration, layering, placement B. integration, placement, layering C. layering, integration, placement D. placement, layering, integration

Discussion 0

Correct Answer: D Vote an answer

Question 5

In a scenario where long-term interest rates are higher than short-term interest rates, the yield curve would best be described as:

A. flat B. neutral C. negative or inverse D. positive

Discussion 0

Correct Answer: D Vote an answer

Question 6

A Luxembourg based bank, which regularly buys American securities for its customers, will preferably:

A. open an account in a bank in the U.S. that has an account at the NYSE B. buy the securities directly in Luxembourg C. buy the American securities directly on the NYSE D. open a bank account in the United States

Discussion 0

Correct Answer: A Vote an answer

Question 7

If a 90-day interest rate is 5 1/4% and a 180-day interest rate is 6.30%. What is the 126-day rate using straight-line interpolation?

A. 5.66% B. 5.68% C. 5.69% D. 5.67%

Discussion 0

Correct Answer: D Vote an answer

Question 8

What is the most important feature of a brokerage reconciliation?

A. the existence of a single reference currency for all the brokers with whom your institution is dealing B. brokers bills must be reconciled promptly at month-end prior to payment C. It must be processed once a year D. brokers' bills should be reconciled during the night when no other system is running

Discussion 0

Correct Answer: B Vote an answer

Question 9

Experience has shown that recourse to taped telephone conversations proves invaluable to the speedy resolution of disputes. Therefore, the Model Code recommends:

A. that all telephone conversations be taped subject to the consent of the counterparties B. that only telephone conversations between FX dealers be recorded C. that all telephone conversations between dealers and brokers be recorded D. that all telephone conversations be taped without informing any of the counterparties

Discussion 0

Correct Answer: C Vote an answer

ACI - Operations Certificate - 3I0-010 Exam Practice Test