Which of the following cannot produce a capital gain?
A. Treasury bill
B. CD
C. ECP
D. Classic repo
What is the maximum maturity of a London CD?
A. One year
B. 270 days
C. 183 days
D. 5years
What is the primary function of GC repo, particularly very short -term transactions?
A. Financing long positions
B. Covering short positions
C. Interest rate positioning
D. Dividend tax arbitrage
Voice-brokers in spot FX are remunerated with:
A. Commission paid by both parties at rates agreed beforehand
B. A fee paid by the seller
C. Bid/offer spread
D. A share of the bid/offer spread
You are quoted the following market rates:
Spot AUD/USD 1.0380-85 0/N AUD/USD swap 2.42/2.35 TIN AUD/USD swap 0.82/0.79 S/N AUD/USD swap 0.80/0.77
Where can you buy AUD against USD for value tomorrow?
A. 1.038579
B. 1.038582
C. 1.038418
D. 1.038421
You are quoted the following rates:
Spot JPY/CHF 0.009520-25 6M JPY/CHF 10/7 At what rate can you buy 6-month outright CHF against JPY?
A. 0.008520
B. 0.009510
C. 0.009515
D. 0.009518
How can options be used to synthesize a short position in the underlying commodity?
A. A short put option + long call option at the same strike price
B. A long put option + short call option at the same strike price
C. A short put option + short call option at the same strike price
D. A long put option + long call option at the same strike price
A customer based in the UK exports automotive parts to the US. His main competitor is in France. What type of exposure to currency risk is posed by movements in EUR/USD?
A. Transaction exposure
B. Translation exposure
C. Economic exposure
D. None
If you took a short position in USD/JPY, how could the Fed "squeeze" you?
A. Raise USD interest rates
B. Lower USD interest rates
C. Lower reserve requirements
D. It could not squeeze you
Under Basel III the Credit Value Adjustment will apply to:
A. bilaterally cleared ABS trades only
B. exchange traded derivatives only
C. derivatives cleared via a CCP
D. bilaterally settled OTC derivatives trades
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