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QUESTION: 271 Topic: 3, Volume C

Which of the following does not represent an operational risk as defined by Basel rules?

theft of information
damage to an organization through loss of its reputation or standing
market manipulation
loss incurred from the use of incorrect documentation

Answer(s): B

QUESTION: 272 Topic: 3, Volume C

You are a sales person in a bank and are about to sell a structured note to a non-professional customer. Before finalizing the transaction you remember to double-check the customer’s charter. You learn that the customer is not allowed to invest in structured products. The risk you have avoided is most likely to be classified as:

credit risk
liquidity risk
legal risk
refinancing risk

Answer(s): C

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QUESTION: 273 Topic: 3, Volume C

By what means should a financial institution preferably submit SSI changes and notifications to its clients?

e-mail
fax or letter
MTn99 SWIFT message
MT670/671 SWIFT message

Answer(s): D

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QUESTION: 274 Topic: 3, Volume C

The Model Code’s correct recommendation regarding electronic trading states:

Time stamps on e-trading platforms need to be internally and globally synchronised to ensure appropriate tracking of trades
All records should be archived and appropriate audit trails must be maintained as required by the local Central Bank
Regular tests for loss of access to external liquidity platforms but not loss of service to clients should be undertaken
Testing of the system’s capability to cope with extreme volumes should be carried out annually

Answer(s): A

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