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Viewing page 12 out of 15 pages
Viewing questions 166-180 out of questions
Questions # 166:

A 7-day piece of USCP is quoted at a rate of discount of 1.75%. What is its true yield?

Options:

A.

1.73%

B.

1.75%

C.

1.77%

D.

1.80%

Questions # 167:

The two-week repo rate br the 5.25% bund 2007 is quoted to you at 3.33-38%. You agree to reverse in bonds worth EUR 266,125,000 with no initial margin. You would earn repo interest ot

Options:

A.

EUR 349,806

B.

EUR 344,632

C.

EUR 319,315

D.

EUR 324,110

Questions # 168:

You bought a EUR 8,000,000 6x9 FRA at 4.50%. The settlement rate is 3-month (90-day) EURIBOR, which is fixed at 3.50%. What is the settlement amount at maturity?

Options:

A.

You pay EUR 20,000.00

B.

You receive EUR 20,000.00

C.

You pay EUR 19,826.52

D.

You receive EUR 19,826.52

Questions # 169:

If EUR/USD is 1.1025-28 and the 6-month swap is 112.50/113, what is the 6-month outright price?

Options:

A.

1.1380-1.11405

B.

1.11375-1.1141

C.

1.09125-1.0915

D.

None of these

Questions # 170:

A bank that has quoted a firm price is obliged to deal:

Options:

A.

At that price.

B.

At that price in a marketable amount.

C.

At that price in a marketable amount with an acceptable name.

D.

At that price in a marketable amount with an acceptable name and provided the market price has not moved excessively.

Questions # 171:

You and a dealer at another bank have an informal bilateral reciprocal arrangement to quote each other two-way prices. During periods of high volatility, the other dealer refuses to quote to you. The Model Code states that

Options:

A.

The other dealer should act with honour, honesty and integrity.

B.

It is a purely matter for your two institutions.

C.

Such arrangements are not in any way enforceable or binding.

D.

All of the above.

Questions # 172:

When dealing with customers, financial market professionals are advised by the Model Code to clarify that all transactions are entered into solely at each partys risk by explicitly agreeing in writing that:

Options:

A.

The customer understands the structure of the transaction.

B.

The customer has made its own assessment and independent decision to enter into the transaction and is doing so at its own risk and for its own account.

C.

No fiduciary or advisory relationship exists between the parties, and all the information is has received is not to be construed as investment advice or a recommendation to transact.

D.

All of the above.

Questions # 173:

The use of standard settlement instructions (SSI’s) is strongly encouraged because:

Options:

A.

It reduces operational risk.

B.

It splits differences arising from failed settlement between the two counterparties.

C.

It removes the need for sending out SWIFT payment authorisations.

D.

All of the above.

Questions # 174:

When quoting the exchange rate between the EUR and AUDI which is conventionally the base currency?

Options:

A.

EUR

B.

AUD

C.

Depends on whether the price is being quoted in Europe or Australia

D.

Depends on whether the price is being quoted interbank or to a customer

Questions # 175:

Market participants should, where activity justifies it, aim to reduce settlement and related credit risk on currency transactions by:

Options:

A.

Establishing realistic daylight limits for counterparties.

B.

Monitoring all payments to counterparties who are known to be experiencing difficulties.

C.

Establishing legally binding bilateral netting agreements with counterparties or participating in a multilateral netting system.

D.

Seeking pre-payment.

Questions # 176:

The Model Code strongly recommends that intra-day oral deal checks should:

Options:

A.

Be conducted out at the end of the morning and afternoon trading sessions.

B.

Be only be conducted after the close of business.

C.

Be mutually agreed between the bank and the broker or counterparty.

D.

Be the responsibility of the broker.

Questions # 177:

If you buy GBP 2,000,000 against USD at 1.6020; GSP 1,000,000 at 1.6035 and GBP 3,000,000 at 1.6028, what is the average rate of your position?

Options:

A.

1.6035

B.

1.6027

C.

1.6030

D.

1.6023

Questions # 178:

What type of institution is the typical issuer of bank bills?

Options:

A.

Credit institution

B.

lnvestment bank

C.

Corporate

D.

All of the above

Questions # 179:

A dealer has been asked by a broker to go to an exclusive club for the third time in a week. He should:

Options:

A.

Agree. Entertainment is a normal part of business.

B.

Refuse. This entertainment is excessive in value and frequency.

C.

Agree but insist on paying halt the cost.

D.

Refuse. Going back to the same club is clearly excessive entertainment.

Questions # 180:

Are the forward points materially affected by changes in the spot rate?

Options:

A.

never

B.

Only for very large movements and longer terms

C.

always

D.

spot is the principal influence

Viewing page 12 out of 15 pages
Viewing questions 166-180 out of questions
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