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ACI 3I0-010 Exam
3I0-010 ACI-Operations Certificate (Page 2 )

Updated On: 1-Feb-2026
Page 2 of 70
PDF with 342 Questions

The control failings involving Barings and Daiwa highlight the critical importance of what operational risk management practice?

  1. the taping of conversations between counterparties
  2. model signing-off and implementation controls
  3. the separation between front/back office duties
  4. the existence of contingency plans

Answer(s): C



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 ?

  1. the loss of the entire principal amount of the deal
  2. the "replacement risk", also known as "replacement-cost risk"
  3. the loss of the negative mark-to-market value of the deal
  4. as the deal is in the future, there is no impact on P&L

Answer(s): B



What are the three successive stages of money laundering?:

  1. integration, layering, placement
  2. integration, placement, layering
  3. placement, layering, integration
  4. layering, integration, placement

Answer(s): C



Some large losses occurred in the past from derivatives trading because:

  1. Derivatives brokers significantly over-charged their clients
  2. Institutions did not understand the leverage of their transactions
  3. Money managers engaged in intra-day trading
  4. Money managers embezzled money using derivatives

Answer(s): B



To ensure effective risk management within a large financial institution, the head of risk management should report to:

  1. the head of trading
  2. the head of IT
  3. the board of directors (top management)
  4. one cannot say, it depends on the financial institution

Answer(s): C



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