Finastra Assessment Test Cheat Sheet 2026

The 30 highest-yield Finastra Assessment Test facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Under a Documents Against Payment (D/P) collection, the buyer receives the shipping documents: → Only after making full payment to the collecting bank
2. Which of these situations calls for the use of the formula A=Pert? → Continuously
3. Which of the following best describes the role of a Central Securities Depository (CSD) in the post-trade environment? → Providing safekeeping and settlement of securities through electronic book-entry.
4. Which of the following shapes would the net resemble if it were folded into a cube? → D
5. Which regulatory framework requires banks to maintain a Liquidity Coverage Ratio (LCR)? → Basel III
6. How would the 3D form seem from above? → A
7. What does CVA (Credit Valuation Adjustment) represent? → An adjustment to the fair value of a derivative to account for counterparty default risk
8. A payment message `pacs.008` is being processed. This message type is characteristic of which financial messaging standard? → ISO 20022 (MX)
9. Which Finastra solution is designed for wealth management and private banking? → Fusion Wealth
10. Decimalize 150% to get its value. → 1.5
11. In Finastra's risk product suite, what does the IRRBB module address? → Interest Rate Risk in the Banking Book
12. What shape has the correct mirror image of the others? → A
13. What is 'fiduciary duty' in wealth management? → The legal obligation to act in the best interest of the client
14. What does Value at Risk (VaR) measure in financial risk management? → The maximum potential loss over a given time period at a specified confidence level
15. Finastra's primary trade finance platform, used by banks to manage Letters of Credit, guarantees, and collections, is known as: → Fusion Trade Innovation
16. In a corporate loan agreement, which of the following is an example of a 'negative covenant'? → A restriction on selling major company assets without the lender's consent.
17. What is the highest value out of the following? → 1.8
18. One cookbook costs $9.50. Marie plans to purchase three cookbooks. How much will she be required to pay when she checks out at the store? → $28.50
19. In portfolio management, what is 'rebalancing'? → Realigning portfolio weights back to target allocations after market movements
20. In credit risk management, what does 'Probability of Default' (PD) represent? → The likelihood that a borrower will fail to meet debt obligations
21. If interest is compounded every month, what is "n"? → 12
22. What is the primary purpose of an ALM (Asset-Liability Management) system? → Managing the risk arising from mismatches between assets and liabilities
23. Which of the following is a primary driver for banks to move their Core Banking Solutions to the cloud? → To reduce operational costs and improve agility and scalability.
24. What is counterparty credit risk (CCR) in derivatives trading? → The risk that a trading counterparty defaults before final settlement
25. In the context of the global migration to the ISO 20022 messaging standard, what is the key advantage of using MX messages over the traditional MT messages? → MX messages carry richer, more structured data, enabling better automation and analytics.
26. Which ICC ruleset governs the issuance and operation of Letters of Credit in international trade? → UCP 600
27. What is model risk in financial services? → The risk of adverse consequences from decisions based on incorrect or misused models
28. What is the smallest of the following values? → 0.04
29. What is the primary function of Application Programming Interfaces (APIs) in the context of a modern Core Banking Solution? → To allow different software systems to communicate and share data securely.
30. Which risk does 'credit insurance' in trade finance primarily protect against? → Non-payment by the buyer due to insolvency or protracted default