BSF - Day 4 afternoon quiz

A primary goal of Core Operations in a bank, heavily reliant on technology, is achieving:

• Maximum branch footfall

• Straight-Through Processing (STP) for transactions

• Increased complexity in manual tasks

• Direct sales of investment products

The RTGS component of the SARIE system in KSA is primarily used by Bank Operations for:

• Clearing cheques in batches

• Settling high-value interbank payments individually and in real-time

• Processing mada card payments at POS terminals

• Managing international trade documents

Which SWIFT message type is standard for a bank-to-bank payment (often used to settle the cover for a customer transfer)?

• MT103

• MT700

• MT202 / MT202 COV

• MT320

"Nostro Reconciliation" in Payment Operations involves matching BSF's payment records against:

• Statements from SAMA regarding liquidity

• Statements from BSF's accounts held with correspondent banks in foreign currencies

• Internal audit reports on payment efficiency

• Customer complaints about payment delays

The 'maker-checker' principle, a key control in Payment Operations, refers to:

• Every payment being checked by the customer first

• Using two different technology systems for verification

• Segregation of duties where different staff initiate and then approve payments

• SAMA making and the bank checking all high-value payments

A crucial step in processing international payments in Operations is performing:

• Credit risk assessment of the beneficiary

• AML and Sanctions Screening against relevant lists

• Market risk analysis on the currency pair

• A customer satisfaction survey

What is the primary responsibility of Trade Finance Operations when documents are presented under an Export Letter of Credit (LC)?

• Arranging insurance for the goods shipped

• Meticulously checking if the documents comply with the LC terms and UCP 600 rules

• Negotiating the price of the goods with the buyer

• Issuing a new Bank Guarantee to the exporter

The SWIFT MT7xx message series is predominantly used by Operations for communication related to:

• Foreign Exchange and Money Market deals

• Cash Letters and Cheque Clearing

• Letters of Credit and Bank Guarantees

• Securities Settlements

Which set of international rules, published by the ICC, governs the operational practices for Letters of Credit handled by Trade Finance Operations?

• Basel IV Framework

• UCP 600

• FATCA Regulations

• MiFID II Directive

A significant operational risk managed by Trade Finance Operations is:

• The bank's stock price falling

• Errors in document examination leading to wrongful payment or non-payment

• A decrease in interbank lending rates

• Corporate clients having insufficient sales