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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 551:

    Selling a FRA has the same interest rate exposure as:

    A. Opening a positive gap

    B. Going over-borrowed

    C. Making a forward-forward loan

    D. Taking a forward-forward deposit

  • Question 552:

    What is the purpose of an initial margin on a futures exchange?

    A. To cover losses incurred between variation margin payments

    B. To exclude retail investors

    C. To pay reserve requirements

    D. To cover fees due to the clearing house

  • Question 553:

    What is the Overnight Index for USD?

    A. H-15 Index

    B. Prime Rate

    C. Overnight Fed funds

    D. Fed funds effective rate

  • Question 554:

    An important reason for trading a futures contract rather than an FRA is:

    A. The expense of settling an FRA

    B. The reduced counterparty risk on a futures exchange

    C. The reduced basis risk on futures

    D. The superior interest rate risk on FRAs

  • Question 555:

    An interest rate swap (IRS) is:

    A. A contract to exchange one stream of interest payments for another

    B. A temporary exchange of one deposit for another of a longer maturity in the same currency

    C. A forward-forward contract

    D. A contract to exchange an interest rate stream in one currency for another one in a different currency

  • Question 556:

    You are quoted the following market rates:

    Spot AUD/CAD 1.0600 12M (360-day) AUD 3.40% 12M (360-day) CAD 1.55%

    What are the 12-month AUD/CAD forward points?

    A. +190

    B. -193

    C. -192

    D. -190

  • Question 557:

    You are quoted the following rates: Spot GBP/CHF 1.4535-45 3M GBP/CHF swap 22/19

    At what rate can you sell GBP against CHF outright 3-month?

    A. 1.4523

    B. 1.4526

    C. 1.4513

    D. 1.4516

  • Question 558:

    You are quoted the following market rates:

    Spot EUR/USD 1.3150 3M (92-day) EUR 0.20% 3M (92-day) USD 0.44%

    What is 3-month EUR/USD?

    A. 1.3159

    B. 1.3158

    C. 1.3142

    D. 1.3230

  • Question 559:

    You are quoted spot USD/NOK 5.7220-28 and USD/SEK 6.3850-58, at what price can you buy NOK against SEK?

    A. 0.8963

    B. 1.1157

    C. 1.1159

    D. 1.1160

  • Question 560:

    You are quoted the following rates: Spot GBP/USD 1.5295-00 Spot USD/CHF 0.9320-23 6M GBP/USD swap 16/12 6M USD/CHF swap 22/18

    Where can you buy GBP against CHF 6-month outright?

    A. 1.4206

    B. 1.4215

    C. 1.4217

    D. 1.4225

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