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3I0-013 Exam Dumps : ACI Operations Certificate challenging

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ACI Operations Certificate challenging Questions and Answers

Question 1

Why are confirmations necessary?

Options:

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.

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Question 2

The effective Euro overnight reference rate, computed as a weighted average of ail overnight unsecured lending transactions undertaken in the interbank market and computed with the help of the European Central Bank, is called:

Options:

A.

EURIBOR

B.

SONIA

C.

EONIA

D.

EURONIA

Question 3

Which one of the following statements regarding the segregation of duties in the confirmation process is incorrect?

Options:

A.

Front office staff should not be able to modify confirmations.

B.

The staff who confirm trades should be distinct from those who agree to and execute trades.

C.

The process of confirming trades should be done only by Operations staff.

D.

Only staff who agree to and execute trades should be permitted to modify any details of the written confirmation.