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3I0-013 Exam Dumps - ACI Operations Certificate challenging

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Question # 41

S.S.I. stands for:

A.

Secure Software Integration

B.

Standard Settlement Instructions

C.

Swiss Spot Index

D.

SWIFT Settlement Instruction

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Question # 42

The premium for a EUR/USD vanilla FX option is paid:

A.

When the option is exercised

B.

Two business days after the trade

C.

When the option transaction takes place, and it is repaid to the buyer when he exercises the option

D.

In monthly installments until the option is exercised

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Question # 43

Depending on the interest rates of the two currencies involved, the forward foreign exchange rate:

A.

Can only be higher or equal to the current spot rate

B.

Can only be lower or equal to the current spot rate

C.

Can never be equal to the current spot rate

D.

Can either be higher, lower or equal to the current spot rate

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Question # 44

Calculation basis for EUR money market transaction is:

A.

30/360

B.

ACT/365

C.

ACT/ACT

D.

ACT/360

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Question # 45

In error, your dealer enters a trade whereby he buys GBP 8,000,000.00 against USD at 1.5500, but manages to cover it at the same rate. When the initial mistaken trade is cancelled, however, the rate has since changed to 1.5200. What is the effect on P&L?

A.

Profit GBP 240,000.00

B.

Loss GBP 240,000.00

C.

Profit USD 240,000.00

D.

Loss USD 240,000.00

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Question # 46

What risks arise from not receiving the securities purchased or not receiving payment for securities sold?

A.

Liquidity, market and counterparty risk

B.

Only a funding risk

C.

Only a liquidity and a funding risk

D.

Settlement, funding and liquidity risk

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Question # 47

Herstatt Risk is also known as:

A.

Settlement risk

B.

Translation risk

C.

Replacement risk

D.

Operational risk

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Question # 48

Who is responsible for producing the Model Code?

A.

The Federation of Bankers Associations

B.

The International Foreign Exchange Market Practices Committee

C.

The G7 Committee of Central Banks

D.

ACI - The Financial Markets Association

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