ACI Dealing Certificate v9.0 (3I0-012)

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Total 743 questions

The market is quoting:
6-month (182-day) CAD 1.25%
12-month (366-day) CAD 1.55%
What is the 6x12 rate in CAD?

  • A. 0.300%
  • B. 0.946%
  • C. 1.935%
  • D. 1.835%


Answer : D

Todays spot value date is the 30th of June. What is the maturity date of a 2-month EUR deposit deal today? Assume no bank holidays.

  • A. 27th August
  • B. 30th August
  • C. 31st August
  • D. 1 September


Answer : C

Lending for 3 months and borrowing for 6 months creates a 3x6 forward-forward deposit.
The cost of that deposit is called:

  • A. Implicit nominal rate
  • B. Implied forward rate
  • C. Funding rate
  • D. Effective future rate


Answer : B

What is the maximum maturity of an unsecured USCP?

  • A. One year
  • B. 270 days
  • C. 183 days
  • D. 5 years


Answer : B

Which of the following is typical of liquid assets held by banks under prudential requirements?

  • A. prices increase during a systemic crisis
  • B. return on investment is relatively high
  • C. absence of active market makers
  • D. wide bid/offer spreads


Answer : A

The seller of a put option has:

  • A. Substantial opportunity for gain and limited risk of loss
  • B. Substantial risk of loss and substantial opportunity for gain
  • C. Limited risk of loss and limited opportunity for gain
  • D. Substantial risk of loss and limited opportunity for gain


Answer : D

You are quoted the following market rates:
spot USD/SEK 6.3850
1M (30-day) USD 0.40%
1M (30-day) SEK 1.15%
What is 1-month USD/SEK?

  • A. 6.4250
  • B. 6.3810
  • C. 6.7850
  • D. 6.3890


Answer : D

Which of the following statements is correct?

  • A. Unilateral collateral obligations to sovereign counterparties provide liquidity to banks.
  • B. Under Basel III commercial banks are most likely to incur lower costs to service their sovereign clients.
  • C. While banks usually do not call for collateral from sovereign counterparties, they must provide collateral for the offsetting hedge transactions which are undertaken with commercial counterparties.
  • D. Uncollateralised exposures to sovereign counterparties will not require additional regulatory capital to be set aside against potential credit losses


Answer : C

If a dealer has a 6-month USD asset and a 3-month USD liability, how could he hedge his balance sheet exposure in the FRA market?

  • A. Buy 3x6
  • B. Sell 3x6
  • C. Buy 0x6
  • D. Sell 6x9


Answer : A

Responsibility for the activities of all personnel engaged in dealing (both dealers and support staff) for both principals and brokers lies with:

  • A. the market supervisor
  • B. the national ACI association
  • C. the management of such organizations
  • D. the central bank


Answer : C

If spot AUD/USD is quoted to you as 1.0420-25 and 1-month forward AUD/USD is quoted to you as 28/23, at what rate can you buy USD 1-month outright?

  • A. 1.0448
  • B. 1.0402
  • C. 1.0397
  • D. 1.0392


Answer : D

How many GBP would you have to invest at 0.55% to be repaid GBP 2,000,000.00
(principal plus interest) in 90 days?

  • A. GBP 1,997,253.78
  • B. GBP 1,997,291.34
  • C. GBP 1,997,287.67
  • D. GBP 1,997,250.00


Answer : B

Hybex Electrics is a highly rated company with a considerable amount of fixed rate liabilities and would like to increase the percentage of floating rate debt. Which of the following is the best course of action?

  • A. Hybex should become a payer of a fixed rate on a swap against receipt of LIBOR.
  • B. Hybex should become a receiver of a floating rate on a swap against payment of a fixed rate
  • C. Hybex should become a receiver of a fixed rate on a swap against payment of LIBOR D.
  • D. Hybex should become a receiver of a floating rate on a swap against payment of LIBOR


Answer : C

A 7% CD was issued at par, which you now purchase at 6.75%. You would expect to pay:

  • A. The face value of the CD
  • B. More than the face value
  • C. Less than the face value
  • D. Too little information to decide


Answer : B

Which of the following is not a negotiable instrument?

  • A. CD
  • B. FRA
  • C. BA
  • D. ECP


Answer : B

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Total 743 questions