Click on the Detail Button to view the Formula Sheet. You have received a gift from a good friend who also happens to be your USD/YEN broker. Under such circumstances, the Model Code recommends that you should:
A. Always decline gifts.
B. Give the gift to charity.
C. Keep the gift.
D. Report the gift to management.
Click on the Detail Button to view the Formula Sheet. Extended trading hours and off-premises dealing can involve additional hazards, the avoidance of which requires clear controls. The Model Code prescribes best market practice. Which of the following is true?
A. Off-premises dealing should be forbidden.
B. After-hours trading should be forbidden.
C. Deals transacted after normal business hours or off-premises should only be undertaken on mobile phones approved by management.
D. Deals transacted after normal business hours or off-premises either by mobile phones or any other equipment should only be undertaken with the approval of management.
Click on the Detail Button to view the Formula Sheet. Deals transacted direct or via a broker prior to 5:00am Sydney time on Monday morning:
A. Are invalid.
B. Must be approved by senior management before confirmation.
C. Cannot be entered into without the approval of the local regulator.
D. Are not considered to have been done in normal conditions or normal market hours.
Click on the Detail Button to view the Formula Sheet. Banks have a fiduciary responsibility to ensure that clients have all necessary information to understand the transaction because this:
A. Will encourage clients to do more business.
B. Will help prevent potential litigation.
C. Will help banks sell sophisticated risk management solutions.
D. Is required by all regulators.
Click on the Detail Button to view the Formula Sheet. When is a broker allowed to assume a deal is closed:
A. When one of the principals confirms the deal.
B. When the principals give a written undertaking for all deals done at the end of the day.
C. When an acknowledgement is received from the principal that the deal is done.
D. When both back offices acknowledge the deal.
Click on the Detail Button to view the Formula Sheet. How long does the Model Code recommend that tape recordings of dealers/brokers should be kept?
A. At least 2 months
B. One year
C. Up to one month
D. Until the maturity of the deal
Click on the Detail Button to view the Formula Sheet. Bank B's price is shown by a broker to Bank A and is dealt by Bank A. If Bank A wants to increase the amount of the transaction, what is good market practice
according to the Model Code:
A. Bank A can call Bank B directly.
B. Bank A should wait 10 minutes before calling Bank B.
C. Bank A cannot increase the amount.
D. Bank A should go back to the broker .
Click on the Detail Button to view the Formula Sheet. Dealers should not conduct dealing activities outside the bank unless:
A. Clear written guidelines issued by management are in place.
B. They are in an approved brokers office.
C. There are on holiday.
D. None of the above.
Click on the Detail Button to view the Formula Sheet. What is a Vostro account?
A. Your account at another bank
B. A foreign bank's account in your bank in your domestic currency
C. An account in your bank used for internal transactions
D. A customer's account at your bank
Click on the Detail Button to view the Formula Sheet. The Model Code recommends that when banks accept a stop-loss order:
A. Management must ensure ongoing lines of communication are in place between the parties.
B. Management must report to the central bank.
C. Management allows only experienced dealers to take such orders.
D. Bank staff must secure the approval of the counterpartys management to accept such orders.
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