Free 3I0-010 Questions for ACI - Operations Certificate 3I0-010 Exam as PDF & Practice Test Engine

Exam Code/Number: 3I0-010
Exam Name/Title: ACI - Operations Certificate
Certification Provider: ACI
Corresponding Certification: ACI-Financial Markets Association

Exam Questions: 342
Updated On: Aug 23, 2026

Question #1

EURIBOR is a:

A. daily fixing of EUR interest rates in London

B. the official successor to LIBOR rates

C. a rate used for the settlement of USD FRAs between European counterparties

D. daily fixing of EUR interest rates within the EMU zone

Discussion 0

Correct Answer: D Vote an answer

Question #2

The purchase price of a coupon bond

A. is lower than its face value if, and only if, its coupon rate is higher than its yield to maturity on the coupon date

B. is higher than its face value if, and only if, its coupon rate is higher than its yield to maturity on the coupon date

C. is always higher than its face value

D. is higher than its face value if, and only if, its coupon rate is lower than its yield to maturity on the coupon date

Discussion 0

Correct Answer: B Vote an answer

Question #3

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 respond to the questions

B. He/she should refuse to answer the questions

C. He/she should avoid the dealer

D. He/she should report this to his/her supervisor

Discussion 0

Correct Answer: D Vote an answer

Question #4

In the weekend newspapers you read that one of your FX counterparties has gone into liquidation. You have no netting or close-out agreements in place with this counterparty and remember that you have one forward deal outstanding. What is the main risk affecting your bank?

A. as the deal is in the future, there is no impact on P&L

B. the "replacement risk", also known as "replacement-cost risk"

C. the loss of the negative mark-to-market value of the deal

D. the loss of the entire principal amount of the deal

Discussion 0

Correct Answer: B Vote an answer

Question #5

You have received the requisite notification from a non-swapping counterparty that their USD correspondent is to be changed from Bank A to Bank B taking effect from value date 15 June 2012. On 14 June 2012, you buy JPY 50 million from your counterparty against USD for value spot. Whom do you pay the USD?

A. neither bank A nor bank B

B. bank A

C. both bank A and bank B

D. bank B

Discussion 0

Correct Answer: D Vote an answer

Question #6

Which of the following steps describes the correct sequence for running an investigation?

A. 1. contact the banks' attorney;
2.ask your dealer to amend or to cancel the deal;
3.ask the accounting department to the adjust value date

B. 1. inform the compliance officer;
2.gather all required documentation;
3.contact the counterpartys dealer;
4.reach an agreement with the counterpartys dealer

C. 1. gather all required documentation;
2.determine the origin of any discrepancy
3.get in contact with the counterparty and submit the facts
4.reach an agreement with the counterparty

D. 1. gather all the required documentation;
2.reach an agreement with your dealer;
3.send a claim to the counterparty

Discussion 0

Correct Answer: C Vote an answer

Question #7

Which SWIFT message type is NOT accepted in TARGET2?

A. SWIFT message type 210

B. SWIFT message type 204

C. SWIFT message type 202

D. SWIFT message type 103+

Discussion 0

Correct Answer: A Vote an answer

Question #8

EURIBOR, the Euro Interbank Offered Rate is:

A. the interest reference rate for all major currencies calculated daily from the rates of panel banks from EU countries

B. the rate at which Euro interbank term deposits are offered by one prime bank to another prime bank published at 11.00 a.m. CET

C. the rate at which Euro interbank term deposits are offered by prime banks to corporate published at 11.00 a.m. CET

D. the interest reference rate for the Euro calculated daily from the rates of 16 London banks

Discussion 0

Correct Answer: B Vote an answer

Question #9

What is the deadline for settling interbank spot-deals in EUR via the TARGET system?

A. 10:00 CET

B. 12:00 CET

C. 15:00 CET

D. 18:00 CET

Discussion 0

Correct Answer: D Vote an answer

Question #10

Commercial Paper for USD 5 million was issued at 5%, which you now buy to yield 3 3/4%. What would you expect to pay?

A. cannot decide based on the information supplied

B. more than 5 million

C. less than 5 million

D. the face value of 5 million

Discussion 0

Correct Answer: C Vote an answer

Question #11

What is the purpose of "internal cash reconciliation"?

A. to reconcile and control the cash balance for the Bank for International Settlements (BIS)

B. to control the banks cash and derivative positions

C. to reconcile and control the cash balance for the central bank

D. cash forecasting, cash collateral and cash positions control

Discussion 0

Correct Answer: D Vote an answer

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