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Free 3I0-010 Exam Braindumps (page: 3)

Page 3 of 86
PDF with 342 Questions

When should discrepancies between front-office and back-office systems be resolved?

  1. by the end of the trading day
  2. on the next business day
  3. on the value date
  4. as soon as they become apparent

Answer(s): D



What is a nostro bank account?

  1. an account held with another bank
  2. an account another bank holds with you
  3. a trust account
  4. a suspense account

Answer(s): A



What is a feature of multilateral netting?

  1. there are no more than two participants involved in the netting process
  2. there is no redistribution of default risk
  3. there is a central clearing house
  4. no legal entity is required

Answer(s): C



You have two nostro accounts in USD, one account is long USD 5 million and the other is short USD 5 million.
What action should be taken to reconcile the accounts?

  1. No action is required. The credit interest earned on the credit balance will offset the debit interest incurred on the short balance.
  2. You should borrow USD 5 million to cover the short balance and leave the long balance as it is
  3. You should lend the surplus USD 5 million in order to overdraft charges on the short balance with the interest earned on the loan
  4. You should instruct the bank with the long balance to pay USD 5 million to the other bank

Answer(s): D






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