ACI 3I0-010 Dumps

Exam: ACI Operations Certificate

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ACI 3I0-010 Exam Tutorial

Showing 1-20 of 342 Questions   (Page 1 out of 18)

Question No : 1 - Topic 1

The difference between the bid and the offer rate of a money market quotation is called:

A. the margin
B. the spread
C. the variation
D. the premium

Question No : 2 - Topic 1

Which of the following are primary markets?

A. auction markets conducted by the U.S. Treasury for U.S. Treasury bills
B. the repo market
C. the foreign exchange market
D. the over-the-counter market for U.S. Government Bonds

Question No : 3 - Topic 1

You have just opened a position in EUR/USD that you run overnight. What risk is present?

A. settlement, counterparty and equity risk
B. only counterparty risk
C. only currency and interest rate risks
D. settlement, counterparty and market risk

Question No : 4 - Topic 1

The owner of a convertible bond

A. has the obligation to convert his bond
B. has the right to convert his bond
C. must wait for the decision of the issuer if he wants to convert his bond
D. has the obligation to convert the coupon into a variable or a fixed rate

Question No : 5 - Topic 1

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 No : 6 - Topic 1

What risks arise from not receiving the securities purchased or not receiving payment for
securities sold?

A. liquidity, market and counterparty risk
B. only a funding risk
C. only a liquidity and a funding risk
D. settlement, funding and liquidity risk

Question No : 7 - Topic 1

A corporate client instructs you to make a USD payment to his account in London. What
two message types should you send?

A. MT 202 and MT 103
B. MT 202 and MT 210
C. MT 200 and MT 103
D. MT 103 and MT 210

Question No : 8 - Topic 1

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

A. ACT/360
C. 360/360
D. ACT/365

Question No : 9 - Topic 1

If the EUR/USD is quoted to you as 1.1050-53, what does this price represent?

A. EUR per USD
B. USD per EUR
C. the interest rate differential between EUR and USD
D. the fact that one USD is worth more than one EUR

Question No : 10 - Topic 1

If today is Wednesday, what are the value days of a spot next money market deal
assuming there are no intervening bank holidays?

A. Wednesday against Thursday
B. Thursday against Friday
C. Friday against Monday
D. Monday against Tuesday

Question No : 11 - Topic 1

What guidelines does the Model Code provide concerning the practice of only one party to
a transaction sending a written confirmation?

A. it is only permissible in derivatives markets
B. it is not recommended
C. it is recommended only when dealing interbank
D. it is only permissible when dealing value today

Question No : 12 - Topic 1

In the Euro deposit markets, what is spot?

A. value one bank business day forward
B. value two bank business days forward
C. value one calendar day forward
D. value two calendar days forward

Question No : 13 - Topic 1

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

A. measuring market exposure
B. defining capital adequacy
C. evaluating country risk
D. monitoring counterparty credit risk

Question No : 14 - Topic 1

What does LIBOR stand for?

A. London Interbank Overseas Rate
B. London Interbank Offered Rate
C. Lending Interbank Offered Rate
D. Leading Interbank Basis Offered Rate

Question No : 15 - Topic 1

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 No : 16 - Topic 1

Your money market dealer has lent GBP 5,000,000.00 at 4 3/4% for 6 months (183 days).
How much must the counterparty pay back to you in capital plus accrued interest at

A. GBP 5,117,123.29
B. GBP 5,119,075.00
C. GBP 5,119,075.34
D. GBP 5,120,729.17

Question No : 17 - Topic 1

Major amendments to a prospectus can be made:

A. at the discretion of the issuer and after the launch
B. only with the consent of the note holders
C. always in the case of default payment
D. only by the custodian with the consent of the issuer

Question No : 18 - Topic 1

Physical securities reconciliation software packages are based on:

A. SWIFT message type 5XX
B. SWIFT message type 2XX
C. SWIFT message type 320
D. SWIFT message type 400

Question No : 19 - Topic 1

The control failings involving Barings and Daiwa highlight the critical importance of what
operational risk management practice?

A. the taping of conversations between counterparties
B. model signing-off and implementation controls
C. the separation between front/back office duties
D. the existence of contingency plans

Question No : 20 - Topic 1

A yield curve can be drawn for a wide variety of financial instruments. The most widely
analyzed yield curves are those for benchmark instruments such as:

A. consumption and inflation levels
B. money market rates and government bonds
C. mortgage rates
D. commodities

Showing 1-20 of 342 Questions   (Page 1 out of 18)



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