ACI 3I0-010 Exam Practice Test Instant Access

Question 1

If today is Thursday, 12 December, what is the spot date for a EUR/USD transaction?

A14 December

B15 December

C16 December

D17 December

Answer : C

Question 2

Which of the following characterise "delivery against payment" also known as "delivery versus payment"?

Asecurities are first delivered and then the payment is processed

Bthe payment order is first blocked and then the payout of securities is processed

Csecurities are exchanged into a defined currency

Ddelivery is insured if and only if payment occurs

Answer : D

Question 3

The price of a zero coupon, maturing in 2 years, is

Aalways close to 100%

Babove 100%

Cbelow 100%

Dnone of the above

Answer : C

Question 4

Experience has shown that recourse to taped telephone conversations proves invaluable to the speedy resolution of disputes. Therefore, the Model Code recommends:

Athat all telephone conversations be taped without informing any of the counterparties

Bthat all telephone conversations be taped subject to the consent of the counterparties

Cthat all telephone conversations between dealers and brokers be recorded

Dthat only telephone conversations between FX dealers be recorded

Answer : C

Question 5

Two days ago, your dealer sold USD 500,000.00 against JPY. JPY 54,945,000 were credited to your JPY nostro account. The deal was made at what rate?

Aat 109.89

Bat 0.0091

Cat 10.9890

Dat 1.0989

Answer : A

Question 6

In the unexpected event that a public holiday is declared on the date a particular contract matures, what is the normal market practice?

Aif that day is NOT the final trading day of the month, all contracts maturing on that day are extended to the next business day

Bif that day is NOT the final trading day of the month, all contracts maturing on that day are shortened to the preceding business day

Call new maturity dates have to be agreed upon with the counterparties involved

Ddecisions about the maturity dates of trading contracts are made by ACI's Committee for Professionalism on a case-by- case basis and must be adhered to

Answer : A

Question 7

A bond selling at a discount will be selling for:

Aless than 100%

B100%

Cmore than 100%

Dmore than a bond selling at a premium

Answer : A

ACI 3I0-010 ACI Operations Certificate Exam Practice Test