Summer Certification Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code = getmirror

Home
ACI
ACI-Financial
3I0-012
ACI Dealing Certificate Questions and Answers

Pass the ACI-Financial 3I0-012 Questions and answers with ExamsMirror

Practice at least 50% of the questions to maximize your chances of passing.

Exam 3I0-012 Premium Access

View all detail and faqs for the 3I0-012 exam

Go to Exam

835 Students Passed

85% Average Score

96% Same Questions

Viewing page 4 out of 15 pages

Viewing questions 46-60 out of questions

Questions # 46:

A bank quotes a spot rate that is verifiably incorrect and deviates substantially from the prevailing market rate.

Options:

you should hit the price and hold the bank to the quoted incorrect rate, as the quoted party is entitled to hold the quoting party to an erroneous rate

you should ask the dealer to check his price, as it is highly unethical for one party to hold another to an erroneously agreed rate

you should point out the mistake and split the difference

you should keep on dealing with this bank until the mistake is rectified

Answer

Questions # 47:

What criteria define a market-maker?

Options:

He will only quote to brokers

He will quote choice prices on request

He will only quote two-way prices to brokers

He will quote two-way prices for marketable amounts on request

Answer

Questions # 48:

Which of the following is a characteristic of all liquid assets under Basel III?

Options:

uncertainty of valuation

high correlation with risky assets

listed on a developed and recognized exchange

readily marketable

Answer

Questions # 49:

You quote your customer EUR/USD 1.3070-73, However they need the rate quoted in EUR per USD. What do you quote?

Options:

1.3073-70

0.7651-49

0.7646-49

0.7649-51

Answer

Questions # 50:

Which of following terms is not used as an expression for dates other than regular dates/periods?

Options:

cock dates

broken dates

odd dates

weird dates

Answer

Questions # 51:

Which of the following is a measure of a bank’s gross exposure to foreign exchange rate risk?

Options:

The maturity mismatch among assets and liabilities denominated in the home and reporting currencies.

The gap between variable and fixed rate assets and liabilities across all currencies.

The sum of all assets in one currency minus the sum of all liabilities in that same currency.

The sum of all off-balance sheet assets in one foreign currency minus the on-balance sheet equity in another currency.

Answer

Questions # 52:

If 6-month EUR/AUD is quoted at 129/132, which of the following statements is correct?

Options:

EUR rates are higher than AUD rates in the 6-month

AUD rates are higher than EUR rates in the 6-month

There is a positive EUR yield curve

There is not enough information to decide

Answer

Questions # 53:

A customer based in the UK exports automotive parts to the US. His main competitor is in France. What type of exposure to currency risk is posed by movements in EUR/USD?

Options:

Transaction exposure

Translation exposure

Economic exposure

None

Answer

Questions # 54:

Which one of the following statements about “CLS rescinds” is correct?

Options:

CLS settlement members may rescind instructions unilaterally provided that the rescind messages reach the CLS Bank before the 00:00 CET deadline.

CLS settlement members may rescind instructions unilaterally provided that the rescind messages reach the CLS Bank before the 06:30 CET deadline.

CLS settlement members may rescind instructions bilaterally only if the rescind messages reach the CLS Bank before the 00:00 CET deadline.

CLS settlement members may rescind instructions bilaterally only if the rescind messages reach the CLS Bank after the 06:30 CET deadline.

Answer

Questions # 55:

A long collar is:

Options:

A purchase of a cap and a sale of a floor

A purchase of a floor and a sale of a cap

A purchase of a cap and a purchase of a floor

A sale of a cap and a sale of a floor

Answer

Questions # 56:

If making a claim in respect of “use of funds”, payments should be settled within how many days?

Options:

Answer

Questions # 57:

You are quoted the following rates:

Spot USD/JPY97.10-15

3M USD/JPY swap 9/6

Spot USD/CHF 0.9320-23

3M USD/CHF swap 11/8

Where can you sell CHF against JPY 3-month outright?

Options:

104.14

104.21

104.23

104.30

Answer

Questions # 58:

What is a “normal” shaped curve?

Options:

Gradual positive slope

Steep positive slope

Flat

Inverted

Answer

Questions # 59:

Four banks provide you with quotes in CHF/SEK. Which is the best price for you to buy SEK?

Options:

6.5825

6.5820

6.5815

6.5830

Answer

Questions # 60:

The one-month (31-day) GC repo rate for French government bonds is quoted to you at 3.75- 80%. As collateral, you are offered EUR 25,000,000.00 nominal of the 5.5% OAT April 2015, which is worth EUR 28,137,500.00. If you impose an initial margin of 1%, the Repurchase Price is: