ACI Operations Certificate challenging v8.0

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Total 386 questions Expand All

What is the function of the cash positions keeper?

  • A. He/she acts as a running control on the balance of a nostro, alerting the treasury dealer when funds are running too low or too high for a particular value day measured by agreed upon internal parameters
  • B. He/she assists the dealer in deciding which currency to invest in
  • C. He/she informs back office staff about which kind of confirmations are to be used
  • D. He/she acts as a running control on the balance of an internal account, alerting the treasury dealer when fees are running too low or high for a particular value day


Answer : A

What is the most important feature of a brokerage reconciliation?

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


Answer : C

What is the first task of the cash positions keeper every day?

  • A. Makes sure the opening position for the current day is the agreed and reconciled position from the previous day
  • B. Makes sure the previous day1s pending position is the opening position for the current day
  • C. He/she checks to see which dealer is in charge of which currency for that day
  • D. He/she checks to see which countries have bank holidays that day


Answer : A

When completing a nostro reconciliation, what does an unresolved ledger credit signify?

  • A. The duplicate receipt of funds from a counterparty
  • B. The non-payment of funds to a counterparty
  • C. The duplicate payment of funds to a counterparty
  • D. The non-receipt of funds from a counterparty


Answer : B

What is a future nostro balances report?

  • A. A list of the final maturity of bonds per value date
  • B. An account of the possible fees to be paid
  • C. A comparison of the overdraft interest to be paid on different nostro accounts
  • D. A report produced to show the anticipated balance on the account as a result of running off existing business


Answer : D

The use of standard settlement instructions (SSI’s) is strongly encouraged because:

  • A. A dealer does not need to confirm payment details by phone
  • B. It splits differences arising from failed settlements between the two counterparties
  • C. It eliminates the need to send out SWIFT payment authorizations on a case-by-case basis
  • D. It avoids having to confirm each deal separately


Answer : A

Which of the following is a fundamental element or module in the “securities dealing and processing” part of a treasury system?

  • A. The financial reporting standard
  • B. Brokerage accounting
  • C. The custodian account reconciliation function
  • D. The country limit overview


Answer : C

An input message for the SWIFT network is composed of up to which five parts?

  • A. 1. Basic header block, 2. Communication header block, 3. Currency block, 4. Text block, 5. Trailers block
  • B. 1. Basic header block, 2. Application header block, 3. User header block (optional), 4. Text block, 5. Trailers block
  • C. 1. Sending header block, 2. Application header block, 3. User header block, 4. Text block (optional), 5. Transmission block
  • D. 1. Basic header block, 2. System header blocks (optional), 3. User header block, 4. Text block, 5. Security block


Answer : B

How many characters does a BIC have? (Under ISO standard 9362: 2009)

  • A. 6 or 9 characters
  • B. 9 or 12 characters
  • C. 7 or 10 characters
  • D. 8 or 11 characters


Answer : D

Which of the following BIC-addresses belongs to a bank based in Germany?

  • A. FRNYUS33
  • B. ECBFDEFF
  • C. BCLXLULL
  • D. SNBZCHZZ


Answer : B

Which of the following statements best describes collateral?

  • A. Liquid assets pledged by one or both counterparties to the other to reduce credit risk
  • B. Deposits placed by a commercial bank with a central bank to fulfill reserve asset ratios
  • C. Any deposit placed by an institution with another institution of a lower credit rating
  • D. Any cross border payment of currency


Answer : A

In the absence of his normal dealer contact, a counterparty calls the back office and asks the clerk for his opinion about how long his money should be placed on deposit. What action should the back office clerk take?

  • A. He should give his opinion.
  • B. He should give his opinion and tell the counterparty that he is not qualified to do so.
  • C. He should tell the counterparty that he is not qualified to give an opinion and refer the counterparty to another dealer.
  • D. He should give his opinion and refer the counterparty to another dealer.


Answer : C

A middle or back office clerk receives an FX ticket in which the counterparty is not clearly identified. What should he/she do?

  • A. Keep the ticket in “stand-by mode” until a matching confirmation is received
  • B. Immediately refer the ticket to the compliance officer
  • C. Refer the ticket to the FX dealer for further details
  • D. Refer the ticket to the nostro account manager for further instructions


Answer : C

Which risk factors fall under counterparty risk?

  • A. Currency risk, interest rate risk and swap risk
  • B. Settlement risk, delivery risk and replacement cost
  • C. Operational risk
  • D. Settlement risk and swap risk


Answer : B

What are the three successive stages of money laundering?

  • A. Integration, layering, placement
  • B. Integration, placement, layering
  • C. Placement, layering, integration
  • D. Layering, integration, placement


Answer : B

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Total 386 questions Expand All

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