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Question 1

What is the meaning of "good value" in FX?

Options :

A : the funds must be in the nostro account of the beneficiary institution by close of business on the agreed upon value date

B : the funds must be in the nostro account of the beneficiary institution by the beginning of the next business day

C : the value of interest to be received is higher than the value of fees to be paid

D : the funds must be in the internal cash account of the clearing house by close of business on the agreed upon value date

Answer: A

Question 2

When do you use a SWIFT message type 202?

Options :

A : For a foreign exchange confirmation

B : For multiple general financial institution transfers

C : For a general financial institution transfer

D : For a customer transfer

Answer: C

Question 3

The control failings involving Barings and Daiwa highlight the critical importance of what operational risk management practice?

Options :

A : the taping of conversations between counterparties

B : model signing-off and implementation controls

C : the separation between front/back office duties

D : the existence of contingency plans

Answer: C

Question 4

The coupon of this type of bond can be based on a country`s CPI (Consumer Price Index)

Options :

A : "step up" bonds

B : index linked bonds

C : premium bonds

D : par bonds

Answer: B

Question 5

How is a call money market transaction generally confirmed?

Options :

A : by telephone between the traders

B : by a SWIFT message MT 320

C : by a SWIFT message MT 330

D : by a SWIFT message MT 300

Answer: C