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3I0-010 ACI-Operations Certificate Questions 71–75 (page: 16)

Updated On: 9-Feb-2026

The depositary of your securities:

  1. is responsible only for the settlement of those securities
  2. is responsible only for safeguarding the securities that you have on your account
  3. is responsible for safeguarding both the securities that you have on your account and their settlement
  4. is never responsible for safeguarding securities

Answer(s): C



If you execute a sale of bonds, and the securities have not been delivered 2 days after you have received payment on the agreed settlement date, which of the following is correct:

  1. you will have to pay at least 2 days of funding costs on top of the coupon
  2. the counterparty will have to pay at least 2 days of interest charges on top of the coupon
  3. you have no debt to the counterparty
  4. the counterparty has a debt to you

Answer(s): A



On 15 April 2010 you buy a bond whose coupon falls on 15 January 2010. The interest basis is 30/360. Using bond settlement T+1, how many days do you apply for the interest calculation?

  1. 89 days
  2. 90 days
  3. 91 days
  4. 92 days

Answer(s): C



Which interest convention is used in the bond market for GBP?

  1. ACT/360
  2. ACT/ACT
  3. D. ACT/365

Answer(s): B



The function of a prospectus can best be described as:

  1. establishing a guarantee for the prompt repayment of the issue at maturity
  2. establishing a guarantee of the issues investment value
  3. providing full disclosure about the issue
  4. formalising the contract between the issuer and the lead / co-lead manager

Answer(s): C



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