SUN ACI - Operations Certificate - 310-010 Free Exam Questions

A. for a multiple general financial institution transfer

B. for a general financial institution transfer

C. for a customer transfer

D. for a foreign exchange confirmation

A. the Government (Debt Management Office)

B. the International Monetary Fund (IMF)

C. the FSA

D. the Bank of England

A. an account that you hold with the Bank of England

B. a suspense account

C. an account that you hold with another bank

D. an account that another bank holds with you

A. A purchase of a floor and a sale of a cap or vice versa

B. A purchase of a cap and a sale of a cap at higher reference rate

C. A purchase of a cap and a purchase of a floor

D. A purchase of a step-up cap and a sale of a step-down floor

A. the risk that there is no liquid market at the exchange to close a trade

B. the loss incurred if the counterparty defaults

C. the risk that the present value of a trade will be negative one day prior to value date

D. the risk that an OTC-derivative product cannot be closed before maturity

A. CLS eliminates foreign exchange risk and thus increases bank profits on FX deals

B. CLS reduces operational banking costs

C. CLS minimizes the settlement risk

D. CLS eliminates the settlement risk but reduces operational efficiency

A. swap a fixed leg into a variable leg

B. buy or sell the currency of your choice

C. arbitrage between foreign exchange and interest rates

D. arbitrage between deposits and forward points

A. to promote domestic financial regulations

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

C. to promote the Basel II agreements

D. to promote international cooperation to combat money laundering

A. trade entry, confirmation, netting, settlement, nostro reconciliation

B. confirmation, netting, trade entry, settlement, nostro reconciliation

C. netting, trade entry, settlement, confirmation, nostro reconciliation

D. trade entry, confirmation, settlement, nostro reconciliation, netting

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

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

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

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

A. to keep the management informed about interest rate developments

B. to invest funds at the highest available interest rate

C. to keep the balance or position of the accounts or nostros in each currency representing the accounts held by the bank's agents

D. to keep the multilateral limits updated

A. that a daily nostro reconciliation report is sent out to the correspondent bank

B. that open items are booked on an internal account

C. that they are performed before the next business day

D. that they are performed in a timely and efficient way

A. One account could be overdrawn while the other has excess funds. The surplus balance would earn less interest than the amount being charged on the corresponding overdraft if an error occurs in settlement. Thus there is a risk of overdraft interest versus idle balances

B. The workload of the auditors, compliance officers, risk managers and dealers will be higher

C. One securities account could be overdrawn while the other has excess securities. The surplus balance would earn less interest, if any, than that being charged on the corresponding overdraft if an error occurs in settlement

D. You need more back office staff to book the fees

A. more than 100%

B. more than a bond selling at a premium

C. less than 100%

D. 100%