Click on the Detail Button to view the Formula Sheet. Deliberately inputting incorrect big figures into an electronic dealing platform is:
A. Technically impossible on electronic platforms
B. Not an uncommon practice and something which professional dealers should be able to guard against.
C. Not good practice.
D. A criminal offence.
Click on the Detail Button to view the Formula Sheet. Gambling or betting amongst market participants has obvious dangers and:
A. Should be forbidden.
B. Should be strongly discouraged.
C. Should be monitored by management.
D. All of the above.
Click on the Detail Button to view the Formula Sheet. The organisational structure of market participants should ensure a strict segregation between front and back office of:
A. Duties and reporting lines.
B. Systems.
C. Career paths.
D. All of the above.
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. 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. The use of mobile phones within the dealing room is not considered good practice except:
A. In volatile markets.
B. When dealing with emerging markets.
C. In an emergency.
D. When quoting for information only.
Click on the Detail Button to view the Formula Sheet. Bank XYZ calls you for a quote in EUR/USD for EURO 20 million. If you decide to quote to Bank XYZ:
A. You must be prepared to deal up to EUR 20 million.
B. You may quote without stating the amount you are prepared to deal.
C. You are only committed to deal in a marketable amount.
D. None of the above.
Click on the Detail Button to view the Formula Sheet. Brokers shall not reveal the identity of a counterparty unless:
A. They are forced to do so.
B. Explicitly authorised to do so by the counterparty.
C. They know the counterparty very well.
D. They are asked by their senior management to do so.
Click on the Detail Button to view the Formula Sheet. If a dealer has interest on one side, and the other side is dealt away, the broker should:
A. Immediately put the price "under reference" and check with the dealer to ascertain his original intention.
B. Cancel the order.
C. Continue with the order.
D. None of the above.
Click on the Detail Button to view the Formula Sheet. The term "under reference" refers to:
A. An unavailability of credit limit for the counterparty.
B. The need to reconfirm a transaction.
C. The unacceptability of the counterparty's name.
D. The rate quoted is going to be revised.
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