3I0-013 Questions Bank

ACI Operations Certificate challenging Questions and Answers

Question 21

What is the RTGS single technical platform inter-linking the ECB and the national central banks of the EU member states which have adopted the Euro?

Options:

CHAPS

TARGET 2

EAF

FX-NET

Question 22

If a bank incurs interest charges from having overdrawn an account due to a late payment from a counterparty:

Options:

The bank is entitled to seek reimbursement from the party responsible for the late payment.

Nothing can be done to compensate the bank for the interest charges it incurs.

The bank should file a complaint with ACI’s Committee for Professionalism.

The bank will automatically be reimbursed by the party responsible for the late payment.

Question 23

Due to an error by your dealers, your bank is 5 days late in paying EUR 10,000,000.00. Your correspondent bank says it will charge you 6% p.a. plus reserve costs of EUR 1.00 per thousand. How much will your account be charged for this overdraft?

Options:

EUR 8,219.18

EUR 8,333.33

EUR 18,219.18

EUR 18,333.33

Question 24

If the maturity of a straight 3-month deposit fails on a Saturday, which is also the last day of the month, what will be the final end date of this transaction?

Options:

The following Monday

Saturday

The last business day of the month

The first business day of the following month

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ACI Operations Certificate challenging Questions and Answers

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