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3I0-012 ACI Dealing Certificate Questions 216–220 (page: 45)

Updated On: 9-Feb-2026

Claims should be communicated in writing via e-mail or preferably by authenticated SWIFT. What information should be provided in the claim?

  1. the details of the transaction involved, the number of days the payment was delayed and the resulting cost
  2. the details of the transaction involved, the number of days the payment was delayed and the cost, together with Central Bank rate to be applied
  3. the details of the transaction involved, the number of days the payment was delayed and the cost, together with reference rates to be applied
  4. the details of the transaction involved, the number of days the payment was delayed and the cost, together with the calculation methodology being claimed

Answer(s): D



You and a dealer at another bank have a verbal bilateral reciprocal arrangement to quote each other two-way prices. During periods of high volatility, the other dealer refuses to quote to you. What does the Model Code say about this situation?

  1. The other dealer is bound to reciprocate.
  2. This is not in any way an enforceable or binding commitment.
  3. The Model Code does not comment on dealing reciprocity.
  4. It is common market practice to suspend reciprocity in periods of high volatility.

Answer(s): B



What does the Model Code say about omitting the “big figure” in voice communication?

  1. The “big figure” should not be included in outright quotations.
  2. In order to avoid misunderstandings, the “big figure” should not be mentioned when repeating the details (facts/rates) of the deal.
  3. For the sake of brevity and efficiency, “big figures” should never be quoted at all in spot FX trading.
  4. The Model Code recommends that the “big figure” be included in all outright and spot FX quotations.

Answer(s): D



Which of the following risks is best mitigated by CLS?

  1. currency risk
  2. operational risk
  3. liquidity risk
  4. settlement risk

Answer(s): D



When differences in payment arise because of errors in the payment of funds:

  1. claims should be made for the costs incurred by the injured party and include all administration costs
  2. no party involved can be enforced to contribute to achieve an equitable resolution to the problem
  3. no market participant should be unjustly enriched or injured by the action/error of another market participant
  4. claims are calculated on the full principal amount of the failed payment with the interest rate imposed by the injured party

Answer(s): C



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