3I0-013 ACI Exam Lab Questions

ACI Operations Certificate challenging Questions and Answers

Question 53

If a trade is to settle in a CCP or CLS:

Options:

The parties may agree verbally not to exchange confirmations

A party can unilaterally eliminate confirmations for these trades

It is left to the discretion of each party to send a confirmation or not

The parties may agree in writing not to exchange confirmations

Question 54

In settlement, which "know your trade" best practice is incorrect?

Options:

Each transaction should be processed always in advance of the payment cut-off time.

Know the status of your trade.

Prioritize trade settlement considering payment cut off times including currency sensitivity and size of amount.

A trade booked in the front office should be available to the cash management department no later than the close of trading day for nostro account management.

Question 55

You request use of funds from your agent bank for 2 days on an amount of EUR 25,000,000.00. EONIA is 0.790% on the first day and 0.836% on the second day. The ECB deposit facility rate is 0.75% on both days. What use of funds settlement amount should you expect?

Options:

EUR 694.44

EUR 781.94

EUR 1,041.67

EUR 1,129.17

Question 56

Which of the following is the primary responsibility of an Operations Department?

Options:

Writing the deal ticket

Arranging the delivery of currency payments

Checking the availability of counterparty limits

Agreeing on the FX rate with the counterparty's middle office

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ACI Operations Certificate challenging Questions and Answers

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