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The use of a net open positions report:

can be used to show the counterparty the amounts it has to pay
can be used as the basis of reporting the banks position to the relevant central bank of the country concerned, against the limit granted for the bank
can be used as the basis of reporting the banks position to the relevant tax regulations office of the country concerned
can be used to adjust the country limits

Answer(s): B

A counterparty pays your bank USD 10,000,000.00 5 days late requiring you to pay overdraft charges of 8% p.

What expenses would you claim from the counterparty in GBP at an exchange rate of 1.6000?
GBP 6,944.44
GBP 7,944.44
GBP 17,777.77
GBP 6,849.32

Answer(s): A

What are the communication channels most often used for investigations?

Answer(s): C

Which of the following best describes the main objective of the nostro reconciliation function?

to ensure efficient cash management
to ensure that all receipts of foreign currency are made in a timely fashion
to reduce the amounts paid in interest rate claims due to late payments
to ensure that expected cash movements agree with the actual movements of currency

Answer(s): B