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3I0-010 Exam Questions & Answers

Exam Code: 3I0-010

Exam Name: ACI - Operations Certificate

Updated: Apr 28, 2024

Q&As: 342

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Practice These Free Questions and Answers to Pass the ACI-Financial Markets Association Exam

Questions 1

Today is the fixing date for 6x9 FRA that you sold at 5.50% and for which the FRABBA LIBOR is now 6.00%. Which of the following is true?

A. You will pay a cash settlement to the counterparty

B. You will receive the cash settlement

C. There is no cash settlement pending

D. There is insufficient information to make a determination

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Questions 2

Which of the following is essential for the effective and timely execution of outward payments?

A. confirmation of the exact processing time of the payment order with the central bank of your counterparty

B. the strict adherence to the cut-off times of your domestic payment system

C. confirmation of the time of processing of the payment order with your own central bank

D. the strict adherence to the cut-off times for payments made worldwide

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Questions 3

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

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Questions 4

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.

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Questions 5

The exercise price (strike price) of an option contract is:

A. the price of the underlying instrument at the time of the transaction

B. the price at which the transaction on the underlying instrument will be carried out if the option is exercised

C. the price the buyer of the option pays to the seller when entering into the options trade

D. the price at which the two counterparties can close out their position

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