ACI
3I0-013 · Question #191
If the maturity of a straight 3-month deposit fails on a Saturday, which is also the last day of the month, what will be the final end date of this transaction?
The correct answer is C. The last business day of the month. See the full explanation below for the reasoning.
Question
If the maturity of a straight 3-month deposit fails on a Saturday, which is also the last day of the month, what will be the final end date of this transaction?
Options
- AThe following Monday
- BSaturday
- CThe last business day of the month
- DThe first business day of the following month
How the community answered
(57 responses)- A12% (7)
- B4% (2)
- C79% (45)
- D5% (3)
Community Discussion
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