3I0-012 ACI Dealing Certificate exact Exam Questions

ACI Dealing Certificate

Last Update 4 hours ago Total Questions : 740

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Question # 136

You are quoted the following market rates:

Spot EUR/USD 1.3010

6M (181-day) EUR 0.30%

6M (181-day) USD 0.50%

What is 6-month EUR/USD?

1.2993

1.3023

1.3141

1.4323

Question # 137

Which of the following statements about requirements for dealing with limit violations is correct?

Financial institutions have to establish procedures for handling limit breaches that are in accordance with their decision-making hierarchy.

If a partial limit violation does not exceed the overall limit, no reaction is required.

The definition of escalation levels is not required in order to react appropriately to different sorts and intensities of limit breaches.

It is adequate and proper to define reactions only to standard cases of limit violations.

Question # 138

You are quoted the following rates:

Spot cable 1.5340-43

0/N cable swap 0.14/0.11

T/N cable swap 0.16/0.13

S/N cable swap 0.43/0.37

At what rate can you buy cable for value tomorrow?

1.534284

1.534316

1.534287

1.534313

Question # 139

Confirmations should be sent out by both counterparties through an efficient and secure means of communication, preferably electronic:

Within 24 hours of the deal.

Within two business days of the deal.

Before the value date.

As soon as possible.

Question # 140

What is one of the responsibilities of the Middle Office according to the Model Code?

Sending settlement instructions

Investigating settlement discrepancies

Keeping a contact list of all back office staff of the bank’s counterparties

Exchanging standard settlement instructions (SSIs)

Question # 141

What is the buyers primary risk in a repo?

The credit risk on the collateral

The credit risk on the repo counterparty

The legal risk on the contract

The operational risk on margin maintenance

Question # 142

A 6-month SEK/NOK Swap is quoted 140/150. Spot is 0.9445. Which of the following statements is correct?

SEK interest rates are higher than NOK interest rates

NOK interest rates are higher than SEK interest rates

NOK interest rates are higher than USD interest rates

SEK interest rates and NOK interest rates are converging

Question # 143

The extension of forward FX contracts at their historic rates is only allowed when:

Prior management approval has been sought.

They are executed within six months.

They are extended for not more than one year.

All of the above.

Question # 144

Today is Monday, 8th December. You sell a 9x12 FRA for value Thursday, 10th September next year. On what date is the settlement amount due to be paid or received (assuming that there are no holidays)?

8th September next year

10th September next year

8th December next year

10th December next year

Question # 145

A 1-month (30-day) USCP with a race value of USD 5 million is quoted at a rate of discount of 2.31%. How much is the paper worth?

USD 4,884,500.00

USD 4,990,375.00

USD 4,990.506.85

USD 4,990,393.49

Question # 146

Under the Model Code, it a broker shouts “done” or “mine” at the very moment a dealer shouts “off”:

No deal is done.

The deal is done.

It should be resolved in consultation with senior management.

The central bank should be consulted.

Question # 147

When is a broker allowed to assume a deal is closed:

When one of the principals confirms the deal.

When the principals give a written undertaking for all deals done at the end of the day.

When an acknowledgement is received from the principal that the deal is done.

When both back offices acknowledge the deal.

Question # 148

Click on the Exhibit Button to view the Formula Sheet. You are short of 6 Dec euro dollar futures contracts at 98.10. Yesterday, the closing price was 98.15. Today’s closing price is 97.905.Whatvariation margin will be due?

You will have to pay USD 612.50

You will receive USD 612.50

You will have to pay USD 3,675.00

You will receive USD 3,675.00