SUN ACI - Operations Certificate - 310-010 Exam Questions [2026]

QUESTION NO: 1
Loan/deposit input and mismatch analysis capability belongs to which module in a treasury system?

A. the FX spot and forward dealing input and processing module B. standard back office features C. the securities trading and processing module D. the money market dealing and processing module

Correct Answer: D

QUESTION NO: 2
What guidelines does the Model Code provide concerning the practice of only one party to a transaction sending a written confirmation?

A. it is only permissible when dealing value today B. it is recommended only when dealing interbank C. it is only permissible in derivatives markets D. it is not recommended

Correct Answer: D

QUESTION NO: 3
A UK Treasury Bill has 91 days to maturity. Its redemption value is GBP 10,000.00. What is the purchase price of this bill using a discount rate of 6% per annum?

A. GBP 9,400.00 B. GBP 9,852.22 C. GBP 9,848.33 D. GBP 9,850.41

Correct Answer: D

QUESTION NO: 4
Which of these statements is correct?

A. The strike price of a Bermudan option is an average. B. A Bermudan option can be exercised only on a few specific dates prior to expiration. C. A Bermudan option can be exercised at any time before its maturity date. D. A Bermudan option can be exercised only at maturity.

Correct Answer: B

QUESTION NO: 5
A yield curve can be drawn for a wide variety of financial instruments. The most widely analyzed yield curves are those for benchmark instruments such as:

A. mortgage rates B. money market rates and government bonds C. consumption and inflation levels D. commodities

Correct Answer: B

QUESTION NO: 6
Which risk factors fall under counterparty risk?

A. operational risk B. currency risk, interest rate risk and swap risk C. settlement risk and swap risk D. settlement risk, delivery risk and replacement cost

Correct Answer: D

QUESTION NO: 7
When completing a nostro reconciliation, what does an unresolved ledger credit signify?

A. the non-receipt of funds from a counterparty B. the duplicate receipt of funds from a counterparty C. the duplicate payment of funds to a counterparty D. the non-payment of funds to a counterparty

Correct Answer: D

QUESTION NO: 8
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. less than 5 million B. more than 5 million C. the face value of 5 million D. cannot decide based on the information supplied

Correct Answer: A

QUESTION NO: 9
Confirmation is a function that can be performed by:

A. any dealer as long as he/she is not a party to the trade B. any staff outside the dealing room C. dealing room staff who is not currently dealing D. back-office staff

Correct Answer: D

QUESTION NO: 10
Which one of the following best describes the correct order of the settlements process?

A. trade entry, confirmation, netting, settlement, nostro reconciliation B. trade entry, confirmation, settlement, nostro reconciliation, netting C. confirmation, netting, trade entry, settlement, nostro reconciliation D. netting, trade entry, settlement, confirmation, nostro reconciliation

Correct Answer: A

QUESTION NO: 11
In a deal confirmation, who is the counterparty on futures contracts?

A. the futures exchange itself B. the ISDA C. the clearing house of the futures exchange D. the broker

Correct Answer: C

QUESTION NO: 12
Which SWIFT message type is a nostro cash reconciliation software package based on?

A. SWIFT message type 571 (i.e. a statement of holdings) B. SWIFT message type 292 C. SWIFT message type 300 D. SWIFT message types 940 and 950 (i.e. a statement of account)

Correct Answer: D

QUESTION NO: 13
Under normal circumstances, which of the following is a non-negotiable instrument?

A. a Money Market Deposit B. a Bankers Acceptance C. a Treasury Bill D. a Medium Term Note

Correct Answer: A