ACI Operations Certificate New Version Practice Exam

ACI Operations Certificate New Version Practice Exam

The ACI Operations Certificate is structured to assess the essential operational competencies required for professionals starting their careers in Back and Middle Office functions. A well-trained Treasury Operations Department plays a critical role in ensuring the smooth completion of financial market transactions. It supports the Front Office by managing accurate fund flows, meeting settlement timelines, and ensuring all necessary documentation is properly executed.

Who should take the exam?

This certification is especially relevant for professionals in or entering roles such as:

• New recruits in Treasury Operations (Back and Middle Office)

• Professionals in supporting functions of Treasury/Dealing rooms

• Internal and external auditors

• Compliance and risk management officers

• Product control teams

• Service and solution vendors working with Treasury functions

Career and Employer Benefits

Earning the ACI Operations Certificate offers advantages for both professionals and organizations:

• Enhances employability with a globally recognized credential

• Meets regulatory competency requirements in financial services

• Provides expertise aligned with international treasury standards

• Grants access to a global network of certified ACI professionals

• Strengthens organizational ability to pass regulatory risk assessments

Exam Format

• Number of Questions: 70 multiple-choice questions

• Duration: 2 hours

• Delivery Mode: Computer-based testing at accredited global centers

• Passing Score: 50%

Course Outline

The ACI Operations Certificate curriculum is divided into five key knowledge domains:

1. Financial Markets Environment

• Understand the structure and functioning of financial markets and explain the full life cycle of a typical transaction.
• Describe the payment and confirmation processes that follow deal capture and transaction entry.
• Explain the significance of settlement and payment systems, including the use and management of correspondent networks and accounts.
• Apply methodologies to match and reconcile transaction records, investigate discrepancies, and implement corrections.
• Recognize the core components of a treasury system, including data management and the fundamentals of treasury accounting.
• Assess the importance of codes, standards, and regulations in financial markets, and evaluate the impact of regulatory compliance and reporting requirements.

2. Foreign Exchange

• Describe the characteristics and features of the primary instruments in foreign exchange (including Non-Deliverable Forwards) and precious metals.
• Explain the responsibilities and settlement processes associated with these instruments.
• Outline the main phases in the life cycle of a typical foreign exchange transaction and a typical precious metals transaction.
• Explain the processes for establishing benchmark fixings in both foreign exchange and precious metals markets.

3. Rates (Money and Interest Rate Markets)

• Describe the characteristics and features of the main instruments in money markets and interest rate capital markets, including Islamic money market instruments, short-term securities, notes and bonds, repos, and Securities Financing Transactions (SFTs).
• Explain the responsibilities and settlement processes associated with these instruments.
• Outline the processes for the issuance of securities.
• Explain the concept of collateral, its role in liquidity management, and the application of haircuts.
• Describe the processes for setting benchmark fixings for money market and interest rate instruments.

4. FICC (Fixed Income, Currency and Commodities) Derivatives

• Describe the characteristics, features, and settlement processes of both Exchange-Traded and Over-The-Counter (OTC) Derivatives.
• Explain the differences between optional and non-optional derivatives, including their features, responsibilities, and settlement requirements.
• Define and explain collateral requirements and processes in Money Market Futures.
• Identify and explain the use of benchmark fixings in derivatives markets.
• Explain the importance of mark-to-market calculations and their role in managing derivatives positions.

5. Financial Markets Applications

• Understand the role of risk in shaping financial institutions’ business models.
• Explain and identify the major categories of risk, including market, credit, operational, legal, regulatory, and reputational risk.
• Describe how Treasury Trading and Sales, Middle Office, and Operations must be structured within the context of effective risk management.
• Explain the importance of robust procedures and controls to prevent unauthorized or incorrect payments and safeguard the business against related risks.
• Describe the role of documentation in the settlement of financial transactions.