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ACI Dealing Certificate

Exam Details

  • Exam Code
    :3I0-012
  • Exam Name
    :ACI Dealing Certificate
  • Certification
    :ACI Certifications
  • Vendor
    :ACI
  • Total Questions
    :740 Q&As
  • Last Updated
    :Jun 17, 2025

ACI ACI Certifications 3I0-012 Questions & Answers

  • Question 171:

    The intrinsic value of a long call option:

    A. Falls and rises with the price of the underlying commodity, but is always positive

    B. Rises if the price of the underlying commodity falls and vice versa

    C. Depends solely on the volatility of the price of the underlying commodity

    D. Becomes negative if the market price of the underlying commodity falls below the strike price of the option

  • Question 172:

    You bought a USD 4,000000 6x9 FRA at 6.75%. The settlement rate is 3-month (90-day) BBA LIBOR, which is fixed at 5.50%. What is the settlement amount at maturity?

    A. You receive USD 12,330.46

    B. You pay USD 12,330.46

    C. You pay USD 12,163.81

    D. You receive USD 12,163.81

  • Question 173:

    The major difference between futures and OTC instruments like FRAs and interest rate swaps is that futures are:

    A. Exchange-traded

    B. Guaranteed

    C. Standardised

    D. All of the above

  • Question 174:

    Your are quoted the following rates:

    spot CHF/JPY 60.12-22 3M CHF/JPY 25.5/22.5 At what rate can you buy 3-month outright JPY against CHF?

    A. 79.995

    B. 79.965

    C. 79.895

    D. 79.865

  • Question 175:

    You are quoted the following market rates:

    Spot USD/JPY 123.65 1M (30-day) USD. 2.15% 1M (30-day)JPY 0.10%

    What is 1-month USD/JPY?

    A. 123.44

    B. 123.65

    C. 123.86

    D. 123.90

  • Question 176:

    A forward-forward loan creates an exposure to the risk of:

    A. Higher interest rates

    B. Lower interest rates

    C. Steepening yield curve

    D. Parallel shift downwards in the yield curve

  • Question 177:

    You have a USD loan that is priced at 3-month LIBOR+50. LIBOR for the loan will be re-fixed in exactly one month. The market is quoting:

    1x3 USD FRA. 1.95-98% 1x4 USD FRA. 2.07-10%

    1x6 USD FRA 2.25-28%

    To hedge the next LIBOR fixing, you should:

    A. Sell a 1x3 FRA at 1.95%

    B. Buy a 1x3 FRA at 1.98%

    C. Buy a 1x4 FRA at 2.10%

    D. Sell a 1x4 FRA at 2.10%

  • Question 178:

    If spot GBP/CHF is quoted 2.3875-80 and the 3-month forward outright is 2.3660-70, what are the forward points?

    A. 21.5/21

    B. 210/215

    C. 215/210

    D. 21/21.5

  • Question 179:

    If I say that I have "bought and sold" EUR/USD in an FX swap, what have I done?

    A. Bought EUR and sold USD spot, and sold FUR and bought USD forward

    B. Bought EUR/USD spot and sold EUR/USD forward

    C. Taken a EUR loan in exchange for making a USD loan with the same counterparly

    D. All of the above

  • Question 180:

    The mid-rate for USD/CHF is 1.3950 and the mid-rate for AUD/USD is 0.7060. What is the midrate for CHF/AUD?

    A. 0.9849

    B. 1.0154

    C. 1.9759

    D. 0.5061

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