3I0-012 ACI Dealing Certificate exact Exam Questions

ACI Dealing Certificate

Last Update 5 hours ago Total Questions : 740

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Question # 166

The spot/next repo rate for the 5% Bund 2018 is quoted to you at 1.75-80%. You sell bonds with a market value of EUR 5,798,692.00 through a sell/buy-back. The Repurchase Price is:

EUR 5,798,982

EUR 5,799,497

EUR 5,746,376

EUR 5,000,694

Question # 167

If you sell USD 3-month forward to a client against EUR, what should you do to hedge your position?

Buy a 3-month EUR/USD outright forward

Buy USD spot, and sell and buy a 3-month EUR/USD FX swap

Sell EUR/USD in the spot market, lend EUR for 3 months and borrow USD for 3 months

Sell EUR/USD in the spot market, borrow EUR for 3 months and lend USD for 3 months

Question # 168

For which of the following might an MT370 be used?

To confirm an FX transaction

To advise the netting position of a currency in NDFS

To advise changes in SSIs

To confirm a MM transaction

Question # 169

Today’s spot value date is the 29th of February. What is the maturity date of a 4-month USD deposit deal today? Assume no bank holidays.

Thursday 27th June

Friday 28th June

Saturday 29th June

Monday 1st July

Question # 170

Under Basel Rules, the Basic Indicator Approach is a regulatory framework for:

liquidity risk

business risk

operational risk

funding risk

Question # 171

The spot/week repo rate for the 4.25% OAT 2015 is quoted to you at 2.35-38%. You buy bonds with a market value of EUR 3,295,500.00 through a sell/buy-back. The Repurchase Price is:

EUR 3,297,004.19

EUR 3,297,005.86

EUR 3,297,025.09

EUR 3,296,985.23

Question # 172

A euro zone-based bank that is asset-sensitive to market interest rate changes might reduce interest rate risk by:

entering into a pay fixed I receive variable standard interest rate swap

entering into a receive fixed I pay variable standard interest rate swap

entering into a pay fixed / receive variable amortizing interest rate swap

entering into a GBP/USD FX swap

Question # 173

What does the Model Code recommend regarding “entertainment and gifts”?

Management should monitor the form, frequency and cost of entertainment and gifts dealers receive, have a clearly articulated policy towards the giving/receipt of gifts and ensure the policy is enforced.

As gifts and entertainment may be offered in the normal course of business, employees can offer inducements to conduct business and solicit them from the personnel of other institutions.

Although management should not monitor the form, frequency or cost of entertainment/gifts dealers receive, they may have a policy towards the giving/receipt of gifts and ensure the policy is enforced.

Gifts or entertainment should never be offered in the normal course of business, and employees must never offer any inducements to conduct business, nor solicit them from other institutions.

Question # 174

You are quoted spot USD/NOK 5.7220-28 and USD/SEK 6.3850-58, at what price can you buy NOK against SEK?

0.8963

1.1157

1.1159

1.1160

Question # 175

If spot NZD/CHF is quoted to you as 0.7406-09. How many NZD would you receive in exchange for CHF 5,000,000.00 if you dealt on the price?

3,704,500.00

6,748,549.06

3,703,000.00

6,751,282.74

Question # 176

Where sale and repurchase agreements or stock borrowing or lending transactions are entered into:

screen services, brokers and other third party providers can all be useful sources of data

For periods less than one month, the maturity date will be the first date that is a business day that is within one, seven, fourteen days from the value date, but when near the month end must never be a date in the next calendar month

Inter-dealer brokers or the automated trading system need not be notified when participants attempt to utilize odd settlement dates

It is not recommended that legal opinion should be obtained on the enforceability of the contract

Question # 177

What is interest rate immunization in the context of bank gap management?

the strategy of holding more interest rate sensitive assets than interest rate sensitive liabilities

the strategy of holding fewer interest rate sensitive assets than interest rate sensitive liabilities

reducing the size of the balance sheet

structuring a bank’s portfolio so that its net interest revenue and/or the market value of its portfolio will not be adversely affected by changes in interest rates

Question # 178

From the following AUD rates:

3M AUD (91-day) deposits 2.35%

3x6 AUD (90-day) FRA 2.55%

Calculate the 6-month implied cash rate.

2.37%

2.46%

2.55%

4.90%

Question # 179

Experience has shown that recourse to taped telephone conversations proves invaluable to the speedy resolution of disputes. Therefore, the Model Code recommends:

that all telephone conversations (internal and external) be taped without informing counterparties

that only conversations undertaken by dealers and brokers should be recorded

that all conversations undertaken by dealers and brokers should be recorded, together with back office telephone lines used by those responsible for confirming deals or passing payments to other institutions

that only telephone conversations between dealers and brokers be recorded

Question # 180

You quote a price to a broker. It is hit by another bank, but you are not informed until some time afterward that the deal has been done. Who is to blame?

You are, as it is your responsibility to check periodically that the price has not been dealt upon.

The broker is, as he must immediately tell you that your price has been dealt upon.

The other bank is, since it did not immediately seek confirmation.

All the parties, particularly you and the other bank.