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3I0-012
ACI Dealing Certificate Questions and Answers

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Viewing page 15 out of 15 pages

Viewing questions 211-225 out of questions

Questions # 211:

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?

Options:

unchanged

15/13

10/8

6/4

Answer

Questions # 212:

You buy a 181-day 2.75% CD with a face value of USD 1,500,000.00 at par when it is issued. You sell it in the secondary market after 150 days at 2.60%. What is your holding period yield?

Options:

2.60%

2.75%

2.775%

2.813%

Answer

Questions # 213:

Which of the following risks is best mitigated by CLS?

Options:

currency risk

operational risk

liquidity risk

settlement risk

Answer

Questions # 214:

What is the day count/annual basis convention for JPY money market deposits?

Options:

ACT/365

ACT/360

ACT/ACT

30E/360

Answer

Questions # 215:

Your GBP/CHF rate is 1.3710-15. How many GBP would your customer have to give you to buy CHF 10,000,000.00?

Options:

7,291,286.91

7,293,946.02

13,710,000.00

13,715,000.00

Answer

Questions # 216:

Today is Monday, 8th December. You sell a 9x12 USD FRA for value Thursday, 10th September next year. On what date is the settlement amount due to be paid or received (assuming that there are no holidays)?

Options:

8th September next year

10th September next year

8thDecembernextyear

December next year

Answer

Questions # 217:

When can a broker consider a deal to be done?

Options:

if he is confident that the dealer will not back out of the deal

if both parties to the deal have established credit lines for each other

if one party to the deal acknowledges interest

if he receives acknowledgement from both the dealers involved

Answer

Questions # 218:

At the end of the day, you are short CHF 3,500,000.00 against SEK at 6.9275. You are asked to revalue your position at 6.9190. What is the resulting profit or loss?

Options:

Profit of CHF 29,750.00

Profit of SEK 29,750.00

Loss of SEK 29,750.00

Loss of CHF 29,750.00

Answer

Questions # 219:

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?

Options:

1.4242

1.4232

1.4246

1.4237

Answer

Questions # 220:

What rates should a panel bank contribute to the EURIBOR fixings?

Options:

The offer side of the quotes it is making to other banks

The offer side of the quotes which it is receiving from other banks

The offer side of the interbank quotes it observes being made by prime banks

The offer side of the quotes it has actually borrowed at

Answer

Questions # 221:

Claims should be communicated in writing via e-mail or preferably by authenticated SWIFT. What information should be provided in the claim?

Options:

the details of the transaction involved, the number of days the payment was delayed and the resulting cost

the details of the transaction involved, the number of days the payment was delayed and the cost, together with Central Bank rate to be applied

the details of the transaction involved, the number of days the payment was delayed and the cost, together with reference rates to be applied

the details of the transaction involved, the number of days the payment was delayed and the cost, together with the calculation methodology being claimed

Answer

Questions # 222:

A purchased 3X6 FRA should be reported in a gap report as