Which of the following market participants would least likely be a user of repo?
A. Investment funds
B. Credit institutions and central banks
C. Corporates
D. Retail and private customers
When quoting the exchange rate between the USD and AUDI which is conventionally the base currency?
A. USD
B. AUD
C. Depends on whether the price is being quoted in Australia or the US
D. Depends on whether the price is being quoted interbank or to a customer
The buyer of a USD/ARS NDF could be:
A. a buyer of Argentine Pesos
B. expecting a falling USD/ARS rate
C. hedging against a weakening of the Argentine Peso
D. speculating on an appreciation of the Argentine Peso
A forward/forward FX swap:
A. is a contract by which the maturity of a regular FX swap can be extended at an historic (noncurrent) rate
B. is a swap transaction where the near leg is traded either value today or value tomorrow and the far leg is traded spot
C. is a swap that does not start spot and where both the near and the far leg are traded forward
D. is a transaction by which a maturing outright forward FX is prolonged at an historic (non-current) rate
Dealers are authorized to deal:
A. anywhere, even away from their own dealing premises
B. after-hours, but only if listed as such by management
C. after-hours, but only from their private residence
D. away from their broker's dealing premises
Which of the following statements about "standard settlement instructions" (SSI) is correct?
A. The Head of Operations has the sole responsibility of ensuring the correctness and validity of the SSI set up.
B. SSIs should be stored and maintained in the bank's general static data system.
C. Each institution should have a separate SSI team to prevent I minimise the potential risk of fraud.
D. SSI staff should be fully integrated within Operations to insure consistent and reliable settlement guidelines.
Which of the following is a Model Code good practice regarding the passing of names?
A. Bank dealers should, wherever possible, give brokers prior indication of counterparties with whom they would be unwilling to do business.
B. Brokers may divulge the names of principals prematurely to induce a counterparty to transact.
C. Dealers should never give brokers guidance on the extent of their price differentiation across broad categories of counterparties.
D. When a principal's name proves unacceptable to another principal, the broker is bound to divulge who refused it.
Three of the following non-EU countries have unilaterally adopted the Euro. Which one has not?
A. Kosovo
B. Andorra
C. Albania
D. Montenegro
Which of the following is not an officially published settlement or reference rate?
A. LIBID
B. LIBOR
C. EURIBOR
D. EURO LIBOR
When a broker needs to switch a name this should be done:
A. only after consultation with the local regulator
B. only if the switching transaction is done at the current market rate
C. only provided that such transactions are identified as switching transactions
D. only after approval by the broker's senior management
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