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3I0-013 ACI Operations Certificate challenging Free Practice Exam Questions (2025 Updated)

Prepare effectively for your ACI 3I0-013 ACI Operations Certificate challenging certification with our extensive collection of free, high-quality practice questions. Each question is designed to mirror the actual exam format and objectives, complete with comprehensive answers and detailed explanations. Our materials are regularly updated for 2025, ensuring you have the most current resources to build confidence and succeed on your first attempt.

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Total 386 questions

A message received but not accepted by SWIFT will be acknowledged with:

A.

NOK

B.

ACK

C.

PAC

D.

NAK

When an over-the-counter broker executes an order for your bank, what information is required on the confirmation you are sent?

A.

The price of the security

B.

The price of the security; the role played by the broker

C.

The price of the security; the role played by the broker; and the commission, if any, that was charged

D.

The price of the security; the role played by the broker; the commission, if any, that was charged and the security that was bought or sold

What are the ISO codes for the Canadian Dollar, the Singapore Dollar, the South African Rand and the Swiss Franc (though not necessarily in that order)?

A.

SAR, CAD, SFR, SGD

B.

CAD, CHF, SGD, SAR

C.

SFR, SGD, ZAR, CAD

D.

SGD, ZAR, CAD, CHF

Which of the following is caracteristical of a CD?

A.

A CD is a certificate for a gold deposit

B.

The CD issuer can redeem the certificate at any time

C.

It is a non-negotiable instrument

D.

A CD is a certificate for a time deposit

In what order would the currencies of the major currency pairs generally be quoted in forex?

A.

EUR/USD, USD/JPY, USD/GBP, USD/CHF, USD/CAD, USD/AUD

B.

EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD

C.

EUR/USD, USD/JPY, GBP/USD, USD/CHF, CAD/USD, AUD/USD

D.

EUR/USD, USD/JPY, GBP/USD, USD/CHF, CAD/USD, USD/AUD

What is the meaning of settlement (Herstatt) risk?

A.

The risk a payment order will not be processed due to a power failure in which the disaster recovery back-up system fails

B.

Any amount that is due to be received under a contract should be regarded as a settlement risk until final confirmation of receipt is confirmed

C.

The risk that settlement arrangements will be made with the wrong counterparty

D.

The risk of aborting settlement procedures due to the unavailability of back office staff

The owner of a convertible bond:

A.

Has the obligation to convert his bond

B.

Has the right to convert his bond

C.

Must wait for the decision of the issuer if he wants to convert his bond

D.

Has the obligation to convert the coupon into a variable or a fixed rate

What is a straddle?

A.

A level of risk on derivatives

B.

A type of option

C.

A derivative benchmark

D.

A derivative strategy using options

A callable bond attributes a right to:

A.

The lead manager to acquire the entire issue

B.

The lead manager to acquire the entire issue and the issuer to redeem the note at specified dates

C.

The issuer to redeem agreed upon quantities of the note at specified dates

D.

The note holder to sell the notes at specified dates

What type of documentation is recommended for repos in the international markets?

A.

The SEC Emergency Short Sale Rules

B.

The ISDA Master Agreement

C.

The Global Master Repurchase Agreement published by the ICMA

D.

An International Securities Lending Agreement

Under what circumstances should you ask for "use of funds"?

A.

If you have credit balances on several nostro accounts and have to use these balances to cover your outstanding payment orders

B.

If your nostro A shows a debit whereas your nostro B shows a credit balance, you allow correspondent B to use your credit balance to work with, in order to receive credit interests to partially or totally cover the overdraft interests on nostro A.

C.

If at the end of a month, you want to collect the credit balances and to ask for credit interest

D.

If the net balance on a nostro account is higher than the amount agreed upon with your counterparty

You are an issuer of a straight bond and you want to change your exposure from a fixed rate to a floating rate because you expect a fail in interest rates. What would you do?

A.

Buy an IRS

B.

Sell an IRS

C.

Buy a FRA

D.

Do nothing because the bond coupon is already a fixed rate

The discount or premium on forward foreign exchange points is calculated based on:

A.

The level of interest rates in the base currency

B.

The level of interest rates in the counter currency

C.

The differential between the interest rates in the two currencies

D.

The current volatility in the FX markets

Your dealer bought a 6x9 USD 4,000,000.00 FRA at 0.75%. Settlement is now due and 3 months (90 days) USD LIBOR is 0.40%. What amount do you pay or receive?

A.

Receive USD 3,496.50

B.

Pay USD 3,496.50

C.

Pay USD 3,500.00

D.

Pay USD 3,448.65

For the third time in a month, a back office clerk has been questioned by one of his spot FX dealers about back office payment authorization and confirmation procedures. What should he/she do?

A.

He/she should report this to his/her supervisor

B.

He/she should respond to the questions

C.

He/she should avoid the dealer

D.

He/she should refuse to answer the questions

What are the major objectives of the Model Code?

A.

To promote the Basel agreements and their objective to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide

B.

To promote international cooperation to prevent the use of the financial system for the purpose of money laundering

C.

To promote domestic financial regulations

D.

To promote a high level of ethical and professional conduct in order to create an efficient market

Forward points represent:

A.

The value of a currency against its base

B.

Largely the interest rate differential between two currencies

C.

The time/value ratio of one currency versus another

D.

The future value of a currency

An interest rate CAP can be defined as:

A.

A series of American call options on FRAs

B.

A series of European call options on FRAs

C.

A series of American put options on FRAs

D.

A series of European put options on FRAs

Which of the following currencies is eligible for CLS settlement?

A.

ZAR

B.

TRY

C.

MYR

D.

CNY

Which kind of report is a reconciliation system unable to produce?

A.

A “probable matched items report” (a report in which most fields match but there are some discrepancies)

B.

A “calculated fees report” (a report of the expected fees owed)

C.

A “matched items report” (a report of all fields that match)

D.

An “unmatched items report” (a report of items for which one is unable to find matches)

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Total 386 questions
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