Exam Code: 3I0-010
Exam Name: ACI - Operations Certificate
Updated: Dec 21, 2024
Q&As: 342
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With respect to financial payments, what does "bridge" mean?
A. it refers to an electronic settlement between Euroclear and Clearstream
B. it is an electronic settlement between US Clear and Clearcom
C. it refers to the relationship between two nostro account institutions
D. it designates the exchange of payment orders between a nostro and a vostro account
What criteria should reconciliation escalation be based on?
A. it should be based on the days past settlement date, value and/or likely compensation
B. it should be based on the BIC-address and country
C. it should be based on bilateral limits
D. it should be based on the relationships of the institutions involved
Which of the following types of payment cannot be executed in the United States?
A. same day value payment in JPY
B. same day value payment in EUR
C. value tomorrow payment in AUD
D. value tomorrow payment in JPY
Which of the following is true about interest rate swaps?
A. The fixed rate and the floating rate payers know the cash value of their payments at the outset
B. There is exchange of principal at the start and at the end of the swap
C. Payment netting is only allowed through a third party
D. The notional amount of the swap is generally not exchanged between counterparties
How could you close out a futures contract?
A. reverse and cash trade
B. cash and carry
C. reverse cash and carry
D. offset
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