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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

For which of the following transactions are proper and completed bilateral master agreements considered essential prior to any dealing?

A.

Spot FX

B.

Repo

C.

Forward FX

D.

FRAs

Which of the following steps is typical for an interbank FX trade process flow?

A.

Physical delivery

B.

Collateral management

C.

Negotiation of fees

D.

Settlement

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

Why are confirmations necessary?

A.

Confirmations authenticate the transaction to the risk manager, as well as providing essential information regarding bilateral limits.

B.

in order to authenticate the BIC-code of the counterparty when the confirmation is sent via SWIFT.

C.

in order to have the exact mailing address of the counterparty when the confirmation is sent via mail.

D.

Confirmations authenticate transactions to staff independent of the dealing room, as well as providing essential information regarding settlement.

What is volatility?

A.

The difference between the current price of an asset and its previous close

B.

A statistical measure of price fluctuations as an annualized percentage

C.

The measure of the liquidity of a contract or security

D.

The difference between the annual high and low of a security

What is a settlement date?

A.

The date by which the interest payment on an operation must be made

B.

The last date by which the minimum reserve amount can be paid to the central bank

C.

The date, on which settlement must be made on the contracted amount or the differential amount of an operation

D.

The date a deal is processed

A USD 1,0000,000.00 US Treasury Bill (91 days) is offered at a discount rate of 0.75%. The offer price will be:

A.

USD 1,000,000.00

B.

USD 998,104.17

C.

USD 992,500.00

D.

USD 998,130.14

Which of the following best describes TARGET2?

A.

The real-time gross settlement (RTGS) system owned and operated by the Eurosystem

B.

The system used in Germany for settling high value domestic securities transactions

C.

The pan-Europe netting system used for reducing credit risk for derivative transactions

D.

The system used by the European Banking Federation to clear cross border Euro payments

A EUR based bank has a USD-convertible bond. What market risks are present?

A.

Interest rate and currency risks

B.

Interest rate, stock price and currency risks

C.

Stock price and currency risks

D.

Stock price risk

What is done with counterparties’ confirmations?

A.

They are scanned for money laundering activities and afterwards destroyed

B.

They are forwarded to the deal capturer to check the completeness of the deal

C.

They are matched as soon as possible after receipt

D.

They are archived after reception

The prompt sending and checking of confirmations is considered a best practice when dealing in:

A.

Amounts higher than USD 10,000,000.00 or the equivalent in other currencies

B.

Amounts higher than USD 1,000,000.00 or the equivalent in other currencies

C.

Any amount unless dealt via a broker

D.

Any amount by any counter party

You have two nostro accounts in USD, one account is long USD 5,000,000.00 and the other is short USD 5,000,000.00. What action should be taken to reconcile the accounts?

A.

No action is required. The credit interest earned on the credit balance will offset the debit interest incurred on the short balance

B.

You should borrow USD 5,000,000.00 to cover the short balance and leave the long balance as it is

C.

You should lend the surplus USD 5,000,000.00 in order to compensate the overdraft charges on the short balance with the interest earned on the loan

D.

You should instruct the bank with the long balance to transfer USD 5,000,000.00 to your nostro account at the other bank

Major amendments to a prospectus can be made:

A.

At the discretion of the issuer and after the launch

B.

Only with the consent of the note holders

C.

Always in the case of default payment

D.

Only by the custodian with the consent of the issuer

How are accounting entries usually generated?

A.

They are generated based on a code profile held for each product type on a time event basis. B. They are generated based on a code profile held for each front office staff member.

B.

They are generated based on the nature of instruments (debits = first priority / credits = second priority).

C.

They are generated in the morning at start of business when there is no direct link to other systems.

What is the most frequently used settlement process for securities?

A.

Free of settlement payment

B.

Cash settlement

C.

Same day value settlement

D.

Delivery-versus-payment

Which of the following are considered money market, cash or derivative instruments?

A.

Currency futures

B.

Forward FXs

C.

Currency options

D.

Forward rate agreements (FRA)

What information is not explicitly confirmed between the two counterparties of a FX swap transaction using a MT 300?

A.

The rate

B.

The amount

C.

The swap points

D.

Settlement information

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

A.

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

B.

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

C.

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

D.

Decisions 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

Your agent bank accepts your back-valuation request for 1 day on an amount of EUR 50,000,000.00, EONIA is 0,375% and the ECB marginal lending facility rate is 1.50%. Applying conventional administration fees, how much will this be charged?

A.

EUR 620.83

B.

EUR 868.06

C.

EUR 968.06

D.

EUR 2,183.33

Commercial Paper for USD 5,000,000.00 was issued at 0.75%, which you now buy to yield 0.50%. What would you expect to pay?

A.

The face value of 5,000,000.00

B.

More than 5,000,000.00

C.

Less than 5,000,000.00

D.

Cannot decide based on the information supplied

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Total 386 questions
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