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Free 3I0-010 Exam Braindumps (page: 30)

Page 29 of 86
PDF with 342 Questions

When is the "final settlement" cut-off for interbank payments using TARGET?

  1. 19:00 (7.00 p.m.) Central European Time (CET)
  2. 18:00 (6.00 p.m.) Central European Time (CET)
  3. 18:30 (6.30 p.m.) Central European Time (CET)
  4. 18:30 (6.30 p.m.) CET, but on the last minimum reserve fulfilment day (23rd of a month) 19:30 (7.30 p.m.) CET

Answer(s): B



Which of the following is the primary responsibility of an Operations Department?

  1. writing the deal ticket
  2. arranging the delivery of currency payments
  3. checking the availability of counterparty limits
  4. agreeing on the FX rate with the counterpartys middle office

Answer(s): B



If a bank incurs interest charges from having overdrawn an account due to a late payment from a counterparty:

  1. The bank is entitled to seek reimbursement from the party responsible for the late payment.
  2. Nothing can be done to compensate the bank for the interest charges it incurs.
  3. The bank should file a complaint with ACI s Committee for Professionalism.
  4. The bank will automatically be reimbursed by the party responsible for the late payment.

Answer(s): A



You have received the requisite notification from a non-swapping counterparty that their USD correspondent is to be changed from Bank A to Bank B taking effect from value date 15 June 2012. On 14 June 2012, you buy JPY 50 million from your counterparty against USD for value spot.
Whom do you pay the USD?

  1. bank A
  2. bank B
  3. neither bank A nor bank B
  4. both bank A and bank B

Answer(s): B






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