ACI
3I0-012 · Question #359
Which of the following statements about "standard settlement instructions" (SSI) is correct?
The correct answer is C. Each institution should have a separate SSI team to prevent I minimise the potential risk of fraud. See the full explanation below for the reasoning.
Question
Which of the following statements about "standard settlement instructions" (SSI) is correct?
Options
- AThe Head of Operations has the sole responsibility of ensuring the correctness and validity of the SSI set up.
- BSSIs should be stored and maintained in the bank's general static data system.
- CEach institution should have a separate SSI team to prevent I minimise the potential risk of fraud.
- DSSI staff should be fully integrated within Operations to insure consistent and reliable settlement guidelines.
How the community answered
(28 responses)- B7% (2)
- C79% (22)
- D14% (4)
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