Who is responsible for producing the Model Code?
A. the Federation of Bankers Associations
B. the International Foreign Exchange Market Practices Committee
C. the G7 Committee of Central Banks
D. ACI - The Financial Markets Association
According to ISDA definitions, if an USD IRS payment is due value Saturday, 31 May and the documentation states that the "modified business day convention" will be used, what value date should be applied to the payment?
A. Saturday, 31 May
B. Tuesday, 3 June
C. Monday, 2 June
D. Friday, 30 May
Physical securities reconciliation software packages are based on:
A. SWIFT message type 5XX
B. SWIFT message type 2XX
C. SWIFT message type 320
D. SWIFT message type 400
Which of the following is the main objective of position-keeping?
A. measuring market exposure
B. defining capital adequacy
C. evaluating country risk
D. monitoring counterparty credit risk
How many characters does a BIC have? (Under ISO standard 9362, 2nd edition)
A. 6 or 9 characters
B. 9 or 12 characters
C. 7 or 10 characters
D. 8 or 11 characters
You have just opened a position in EUR/USD that you run overnight. What risk is present?
A. settlement, counterparty and equity risk
B. only counterparty risk
C. only currency and interest rate risks
D. settlement, counterparty and market risk
What type of documentation is recommended for repos in the international markets?
A. An Overseas Securities Lenders Agreement
B. A ISDA Master Repurchase Agreement
C. A SIFMA/ICMA Global Master Repurchase Agreement
D. An International Securities Lenders Agreement
If the EUR/USD is quoted to you as 1.1050-53, what does this price represent?
A. EUR per USD
B. USD per EUR
C. the interest rate differential between EUR and USD
D. the fact that one USD is worth more than one EUR
In FX swaps, the rate of the spot leg
A. may be freely chosen by the quoting party as long as both parties agree on it
B. must always be fixed immediately at the current mid rate, to reflect the rate at the time the deal was made
C. should be fixed immediately within the current spread, to reflect current rates at the time the transaction was made
D. should always be fixed off the current spread in order not to be mistaken for a spot FX transaction
Under normal circumstances, which of the following is a non-negotiable instrument?
A. a Medium Term Note
B. a Bankers Acceptance
C. a Money Market Deposit
D. a Treasury Bill
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