Chapter 6 , part 2 - CISI IT

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1. If you were designing a new settlement system, how would you deliver a maturity ladder to users?

  • As a real-time enquiry system
  • As printed due to the increased cost of providing a real-time or screen-based enquiry
  • Via SWIFT messaging
  • As a screen-based enquiry system which is updated overnight
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2. SWIFT key exchnage provides 5 security benefits to participants. 4 of those are authenticity, intergrity, confidentiality and access control. What is the final benefit?

  • Non-repudiation (originator cannot deny that the message was sen as it contains their unique digital signature)
  • ACK/NACK
  • Digital Signature

3. An individual maturity ladder page should be provided for which ONE of the following?

  • Each bank account that a firm uses to settle trades
  • For each Euroclear account that a firm uses to settle trades.
  • For each currency that a firm trades in
  • For each CREST account that a firm uses to settle trades

4. What does field 61 of MT950 message beginning with '61:050704C472,50...." mean?

  • This is a credit entry of 472.50
  • The opening balance of the account is 472.50
  • This is a debit entry of 472.50

5. For what point does SWIFT operate?

  • 24hrs per day, 7 days a week
  • 24 hrs a day, Mon-Sat
  • 24hrs a day, Mon-Fri
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