3I0-012 ACI Dealing Certificate exact Exam Questions

ACI Dealing Certificate

Last Update 4 hours ago Total Questions : 740

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Question # 91

If you take an 18-month USD deposit, when is interest payable?

Quarterly

At maturity

Semi-annually

After one year and at maturity

Question # 92

A bank expects interest rates to fall with a parallel downward shift in the yield curve. What action should the bank take, if it wants to benefit from this view?

increase the maturity of its liabilities

reduce the maturity of its asset portfolio

runazerogap

lengthen the maturity of its asset portfolio

Question # 93

The process of confirming trades is a function that can be performed by:

any dealer as long as he/she is not a party to the trade

staff in the back-office/operations who are independent of the trade

staff in the dealing room who are not dealing

any staff outside the dealing room

Question # 94

What should a broker do if his quoted price is hit simultaneously by several dealers for a total amount greater than that for which the price concerned was valid?

allot the amount for which the price is valid pro rata amongst some principals in accordance with the amount proposed by each and inform the other dealers that “nothing was done”

decide which principals he will allot the amount for which the price is valid and inform the other dealers that “nothing was done”

evenly allocate the amount for which the price is valid amongst all the principals and inform all the relevant dealers

apportion the amount for which the price is valid pro rata amongst all the principals concerned in accordance with the amount proposed by each and inform all the relevant dealers

Question # 95

From 2019 on the total capital requirement for banks under Basel III will be defined as:

8% of RWA plus conservation buffer

10.5% of RWA plus conservation buffer

8% of RWA plus countercyclical buffer

10.5% of RWA plus countercyclical buffer

Question # 96

Using the following rates:

Spot GBP/CHF 1.4235-55

Spot CHF/SEK 6.8815-45

3M GBP/SEK swap 140/150

What is the price for 3-month outright GBP/SEK?

9.8141-9.8246

9.8108-9.8279

9.8098-9.8289

9.8151-9.8236

Question # 97

Does the slope of the interest yield curve typically have a substantial impact on a bank’s net interest margin?

No, it doesn’t, since the slope of the yield cure is unrelated to the spread between short-term and long-term interest rates.

No, it doesn’t. There isn’t any link at all between the slope of the interest yield curve and a bank’s net interest margin.

Yes it does. In banking, long-term rates usually apply to bank deposits and money market borrowings whereas short-term interest rates are attached to loans and securities.

Yes it does. Long-term rates usually apply to a bank’s assets (loans, securities, etc.) and the short term interest rates are generally attached to liabilities (deposits, money market borrowings, etc.).

Question # 98

Under Basel III rules the meaning of RSF is:

Reviewed Supervisory Factor

Required Stable Funding

Riskless Stable Funding

Riskless Supervised Funding

Question # 99

What is the ISO code for the Indian rupee?

IDR

RUP

INR

IND

Question # 100

By what means should a financial institution preferably submit SSI changes and notifications to its clients?

e-mail

fax or letter

MTn99 SWIFT message

MT670/671 SWIFT message

Question # 101

Which of the following statements reflects the position of the Model Code on gambling or betting amongst market participants?

Gambling and betting amongst market participants should be strongly discouraged.

Gambling and betting amongst market participants may be permitted if management monitors it.

Gambling and betting amongst market participants should be prohibited.

Gambling and betting amongst market participants is only tolerated if it is previously reported to the CFP of the ACI.

Question # 102

According the Model Code, a principal, whose name has been rejected, feeling that the broker may have actually quoted a price or rate that it could not in fact substantiate, may:

deduct points from the broker or adjust the brokerage bill accordingly

in some centres, ask either the central bank or some other neutral body to investigate and confidentially verify that there was support for the original price or rate

in some centres, ask the local ACI to investigate and confidentially verify that there was support for the original price or rate

insist that the broker discloses the name of the other counterparty

Question # 103

The Interest Rate Parity Theorem should work because, when one sells a low interest rate currency to invest in a high interest rate currency and hedges the currency risk:

The cost of hedging is given by the forward points, which are equal to the interest rate differential between the two currencies

The high interest rate currency will depreciate

The profit from the appreciation of the high interest rate currency has been hedged away

Interest rates are mean reverting, which means the low interest rate will tend to rise and the high interest rate will tend to fall