Which of the following is essential for the effective and timely execution of outward payments?
A. confirmation of the exact processing time of the payment order with the central bank of your counterparty
B. the strict adherence to the cut-off times of your domestic payment system
C. confirmation of the time of processing of the payment order with your own central bank
D. the strict adherence to the cut-off times for payments made worldwide
Which of the following steps is typical for an interbank FX trade process flow?
A. physical delivery
B. collateral management
C. negotiation of fees
D. settlement
Which department is responsible for originating deals?
A. the front office
B. the back office
C. the middle office
D. the compliance department
Why are confirmations necessary?
A. Confirmations authenticate the transaction to the risk manager, as well as providing essential information regarding bilateral limits.
B. in order to authenticate the BIC-code of the counterparty when the confirmation is sent via SWIFT
C. in order to have the exact mailing address of the counterparty when the confirmation is sent via mail
D. Confirmations authenticate transactions to staff independent of the dealing room, as well as providing essential information regarding settlement.
Which ONE of the following excerpts completes this statement of a best market practice? "Any exception to the confirmation process should be resolved..."
A. no later than the value date
B. within 2 days
C. within 1 week
D. on the day it is discovered
What is the advantage of instantaneous matching?
A. it gives the counterparty more time to cancel a deal
B. it reduces errors and costs
C. it gives front-office staff more time to process the payment orders
D. it increases transaction costs
On 15 April 2010 you buy a bond whose coupon falls on 15 January 2010. The interest basis is 30/360. Using bond settlement T+1, how many days do you apply for the interest calculation?
A. 89 days
B. 90 days
C. 91 days
D. 92 days
Which interest convention is used in the bond market for GBP?
A. ACT/360
B. ACT/ACT
C. 360/360
D. ACT/365
The function of a prospectus can best be described as:
A. establishing a guarantee for the prompt repayment of the issue at maturity
B. establishing a guarantee of the issues investment value
C. providing full disclosure about the issue
D. formalizing the contract between the issuer and the lead / co-lead manager
A 7% bond, maturing in 10 years, is selling at 92.00. What is its current yield?
A. 7.61%
B. 6.40%
C. 7%
D. the yield cannot be determined
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