3I0-012 Certification Exam Questions with AI Explanations

How frequently should business contingency procedures be tested and updated?

Answer(s): D

Which of the following does the Model Code mention with regards to recording telephone conversations?

There is no need to inform new counterparties and clients that conversations will be recorded.
It is normal practice that tapes and other records should be kept for at least twelve months.
The periods for which tapes and other records should be retained should reflect the way in which the terms and conditions of transactions have been agreed, and the duration of transactions.
Dealers and other staff are reminded that telephones and electronic text messaging systems in the firm are intended for business and private use and that conversations and exchanges of text messages should be conducted in a casual manner.

Answer(s): C

Regarding access to production systems, which of the following is incorrect?

Profiles for functions are encouraged and should be reviewed semi-annually by a manager.
Developers should have unrestricted access to production systems.
Access to production systems should be rigorously controlled.
Users should not have access to change system functionalities.

Answer(s): B

Which one of the following statements is true?

Brokers should only show the names of banks to counterparties who have prime credit ratings.
Brokers should only show the names of banks to counterparties who provide good liquidity to the brokered market.
Brokers should only show the names of banks to counterparties whom they know well.
Brokers should only show the names of bank counterparties if both sides display a serious intention to transact

Answer(s): D