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QUESTION: 111

You have 10 credited amounts of 1 million each with same value date and same currency. Which of the following items is most helpful in reconciling these amounts?

When the deal was processed is a good indication of the amounts to be reconciled
Each deal is registered according to a unique reference which helps in reconciling the items
The BIC-address helps you to reconcile the open items
None of the above. You should telephone your counterparties to request more information

Answer(s): B

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QUESTION: 112

Why should the maturity profile of unreconciled items be frequently reviewed?

It allows the compliance officer to see how often the reconciliation staff has claimed for an outstanding item
It allows management to see what items are pending by value and counterparty, but also how long items have been outstanding and whether there is an improvement in the pace of reconciliations.
It allows reconciliation staff to check the bilateral limits with counterparties and to adjust these limits as necessary
Because the most recent figures have to be published in the balance report

Answer(s): C

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QUESTION: 113

Why is securities reconciliation necessary?

To prevent that a failed order results in a failure to settle that day, which in turn would lead to an incompletely-reconciled account.
To facilitate the handling of complex security transactions.
In order to save data capacity in electronic archiving systems.
To anticipate the fact that clearing houses stop processing in the afternoon, whereas payment orders may still be processed until 6 p.m.

Answer(s): B

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QUESTION: 114

What criteria should reconciliation escalation be based on?

It should be based on the days’past settlement date, value and/or likely compensation
It should be based on the BIC-address and country
It should be based on bilateral limits
It should be based on the relationships of the institutions involved

Answer(s): D

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