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QUESTION: 31

According to ISDA definitions, if an USD IRS payment is due value Saturday, 31 May and the documentation states that the "modified business day convention" will be used, what value date should be applied to the payment?

Saturday, 31 May
Tuesday, 3 June
Monday, 2 June
Friday, 30 May

Answer(s): D

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QUESTION: 32

Which action results in the highest STP-Rate?

the daily reconciliation of nostro accounts
the use of a Continuous Linked Settlement
the use of internal limits regulations such as counterparty limits and country limits
a trade confirmation check

Answer(s): B

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QUESTION: 33

What is the main role of back office staff?

to confirm the accuracy of counterparties mailing addresses
to inform the central bank when a country limit is higher than a fixed level
to ensure that trades are confirmed and settled correctly in accord with best market practice recommendations
to be in constant contact with the counterparties front office staff

Answer(s): C

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QUESTION: 34

A broker:

is an agent who mediates between buyers and sellers, for their mutual financial interest
controls country limits in cooperation with the compliance officer
is responsible for reducing transaction fees
acts as a correspondent bank

Answer(s): A

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