ACI - Operations Certificate - 3I0-010 Exam Questions [2026]

QUESTION NO: 1
EURIBOR, the Euro Interbank Offered Rate is:

A. 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 B. the rate at which Euro interbank term deposits are offered by prime banks to corporate published at 11.00 a.m. CET C. the interest reference rate for the Euro calculated daily from the rates of 16 London banks D. the interest reference rate for all major currencies calculated daily from the rates of panel banks from EU countries

Correct Answer: A

QUESTION NO: 2
A forward rate agreement (FRA) is:

A. an agreement to exchange cash flows starting on a specific date in the future B. an interest rate to be applied to a loan or deposit that begins and matures in the future C. an interest rate agreement where buyer and seller will exchange an interest rate differential at a given date in the future D. a future rate agreement involving two different currencies

Correct Answer: C

QUESTION NO: 3
The use of a net open positions report:

A. can be used as the basis of reporting the banks position to the relevant central bank of the country concerned, against the limit granted for the bank B. can be used to adjust the country limits C. can be used as the basis of reporting the banks position to the relevant tax regulations office of the country concerned D. can be used to show the counterparty the amounts it has to pay

Correct Answer: A

QUESTION NO: 4
Which of the following are primary markets?

A. the over-the-counter market for U.S. Government Bonds B. the repo market C. auction markets conducted by the U.S. Treasury for U.S. Treasury bills D. the foreign exchange market

Correct Answer: C

QUESTION NO: 5
What is the replacement risk of an OTC derivative trade?

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

Correct Answer: B

QUESTION NO: 6
Which SWIFT message type is NOT accepted in TARGET2?

A. SWIFT message type 202 B. SWIFT message type 204 C. SWIFT message type 103+ D. SWIFT message type 210

Correct Answer: D

QUESTION NO: 7
Your bank purchases a FRA at 5.75% in USD. Under what conditions will you pay a cash settlement?

A. if EURIBOR is higher than 5.75% B. if EURIBOR is lower than 5.75% C. if LIBOR is lower than 5.75% D. if LIBOR is higher than 5.75%

Correct Answer: C

QUESTION NO: 8
Which settlement system offers the lowest risks?

A. EBA B. EAF C. TARGET D. CLS

Correct Answer: D

QUESTION NO: 9
When would you use a SWIFT message type 103?

A. for a customer transfer B. for a foreign exchange confirmation C. for a multiple general financial institution transfer D. for a general financial institution transfer

Correct Answer: A

QUESTION NO: 10
The prompt sending and checking of confirmations is considered a best practice when dealing in:

A. amounts higher than USD 10,000,000.00 or the equivalent in other currencies B. any amount unless dealt via a broker C. amounts higher than USD 1,000,000.00 or the equivalent in other currencies D. any amount by any counterparty

Correct Answer: D

QUESTION NO: 11
Due to an error by your dealers, your bank is 5 days late in paying EUR 10,000,000.00. Your correspondent bank says it will charge you 12% p. a. plus reserve costs of Euro 1.00 per thousand. How much will your account be charged for this overdraft?

A. EUR 26,666.67 B. EUR 1,200,000.00 C. EUR 16,438.36 D. EUR 16,666.67

Correct Answer: A

QUESTION NO: 12
Which of the following currencies is eligible for CLS settlement?

A. ZAR B. MYR C. CNY D. TRY

Correct Answer: A

QUESTION NO: 13
If today is Wednesday, what are the value days of a spot next money market deal assuming there are no intervening bank holidays?

A. Friday against Monday B. Wednesday against Thursday C. Monday against Tuesday D. Thursday against Friday

Correct Answer: A

QUESTION NO: 14
Internal nostro ledger accounts

A. generally mirror the nostro statements B. are commonly used to register off-balance sheet movements C. are reserved for audit purposes only D. are used to book internal tax related items

Correct Answer: A

QUESTION NO: 15
Which is the most accurate definition of Euro Commercial Paper - "Short-term promissory notes issued in bearer form with a maturity of"

A. > 1 day < 365 days B. > 30 days < 360 days C. > 360 days < 5 years D. > 180 days < 365 days

Correct Answer: A