3I0-012 ACI Dealing Certificate exact Exam Questions

ACI Dealing Certificate

Last Update 23 hours ago Total Questions : 740

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Question # 121

USD/CHF is quoted to you at 0.9290-93 and GBP/USD at 1.5320-30. At what rate could you buy GBP and sell CHF?

1.4242

1.4232

1.4246

1.4237

Question # 122

As to general risk management principles, the Model Code mentions that the organizationalstructure should ensure independent risk management and controls. Which one of the following is not among those controls?

open and effective communication channels between all levels of staff and cross-functions should be maintained.

regular internal audits should be carried out together with trading and risk management to ensure early identification of internal control weaknesses

complete segregation of duties between the front, middle and back office activities

a separate system for independent monitoring to ensure compliance with the risk management framework should be in place

Question # 123

What does the term “mine” mean when given in response to an FX spot quotation?

I buy the base currency at the bid rate.

I buy the base currency at the offer rate.

I buy the counter-currency at the offer rate.

I sell you the base currency at the bid rate,

Question # 124

Your broker quotes you EUR/USD at 1.3425-28. You respond by saying “yours”. Which one of the following statements is true?

You are committed to sell a marketable EUR amount unless the quote was for a specific amount.

You are committed to sell to the counterparty his full EUR amount subject to credit limits on the counterparty.

You are committed to sell EUR up to the amount permitted by your credit limits on the counterparty.

You are committed to sell a marketable USD amount unless the quote was for a specific amount.

Question # 125

Which of the following statements is false? The repo legal agreement between the two parties concerned should:

enable the parties to comply with any capital adequacy requirements

provide for the absolute transfer of title to securities

provide for the calculation of initial consideration of the repo transaction

detail the course of action in the case of defaults, for example the rights and obligations of the counterparties and the full set-off of claims between the parties

Question # 126

EURODOLLAR futures are:

Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 500,000.00

Traded on the Intercontinental Exchange (ICE) and have a face value of USD 1,000,000.00

Traded on the Intercontinental Exchange (ICE) and have a face value of USD 500,000.00

Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 1,000,000.00

Question # 127

The mid-rate for USD/CHF is 0.9300 and the mid-rate for NZD/USD is 0.8560. What is the mid rate for NZD/CHF?

0.7961

1.0864

1.7860

1.2561

Question # 128

A 3-month (91-day) deposit of AUD 25,000,000.00 is made at 3.25%. At maturity, it is rolled over three times at 3.55% for 90 days, 4.15% for 91 days and 4.19% for 89 days. At the end of 12 months, how much is repaid (principal plus interest)?

AUD 25,962,011.00

AUD 25,959,714.91

AUD 25,948,878.47

AUD 25,948,648.82

Question # 129

Which party usually takes an initial margin in a classic repo?

The buyer

The seller

Neither

Both

Question # 130

A 3-month (90-day) NZD deposit is 2.75% and 6-month (180-day) NZD deposit is 3.00%. What is the 3x6 NZD deposit rate?

3.2281%

3.2278%

3.00%

2.875%

Question # 131

3-month USD/CHF is quoted at 12/10. Interest rates in Switzerland are reduced but USD rates (which are higher) are unchanged. What would you expect the 3-month forward USD/CHF rate to be?

unchanged

15/13

10/8

6/4

Question # 132

The Model Code stipulates that you have a right to qualify your quotes in terms of amounts:

if you do so when you make the price

provided the amounts are marketable

once you have discovered the name of the counterparty for credit reasons

at anytime

Question # 133

If you took a short position in USD/JPY, how could the Fed “squeeze” you?

Raise USD interest rates

Lower USD interest rates

Lower reserve requirements

It could not squeeze you

Question # 134

What is the ISO code for the Lebanon pound?

LEP

LBD

LBP

LNP

Question # 135

A person who appears to be a technician asks for your help in accessing treasury systems as he has forgotten his list of access codes. The Model Code recommends:

You should provide all reasonable assistance.

You should report the request immediately to senior management.

Do not get involved; you may be at risk.

There is no recommendation in the Model Code.