100% Free ACI 002-201 Practice Test Questions and Answers 2026

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Total 340 Questions | Updated On: May 22, 2026

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Question 1

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

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 2

How is a call money market transaction generally confirmed?

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

Question 3

Your FX swap dealer sold and bought 2 months USD/CHF 10,000,000.00; rates were set to 0.9300 against 0.9285. What payment is your bank expecting in two months from now?

A : CHF 9,300,000.00

B : CHF 10,770,059.24

C : CHF 9,285,000.00

D : USD 10,000,000.00

Answer: D

Question 4

Which SWIFT message formats would you use for a foreign exchange confirmation and fixed money market confirmation, respectively?

A : MT 400, MT 950

B : MT 200, MT 100

C : MT 300, MT 950

D : MT 300, MT 320

Answer: D

Question 5

On the sale of a CD, the seller

A : receives a lower price than he originally paid

B : receives a higher price than he originally paid

C : receives a price calculated using the price originally paid

D : there is not enough information to know how much the seller receives

Answer: D

Page: 1 / 68

Total 340 Questions | Updated On: May 22, 2026

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