For which country's currency is ZAR the ISO code?
A. Saudi Arabia
B. South Africa
C. Zimbabwe
D. Zambia
Which of the following currency risks could only be hedged by a non deliverable forward (NDF)?
A. an exposure in Latvian Lats (LVL)
B. an exposure in Russian Rouble (RUB)
C. an exposure in Romanian Leu (RON)
D. an exposure in Bulgarian Lev (BGN)
A 6-month SEK/NOK Swap is quoted 40/50. Spot is 1.1145. Which of the following statements is correct?
A. SEK interest rates are higher than NOK interest rates
B. NOK interest rates are higher than SEK interest rates
C. NOK interest rates are higher than USD interest rates
D. SEK interest rates and NOK interest rates are converging
What is an FX swap from spot?
A. An exchange of two streams of interest payments in different currencies and an exchange of the principal amounts of those currencies at maturity
B. A spot sale (purchase) and a forward purchase (sale) of two currencies agreed simultaneously between two parties
C. An exchange of currencies on a date beyond spot and at a price fixed today
D. An agreement to buy (sell) an amount of base currency value spot and simultaneously resell (buy back) the same amount to the same counterpart value today
If you sell USD 3-month forward to a client against EUR, what should you do to hedge your position?
A. Buy a 3-month EUR/USD outright forward
B. Buy USD spot, and sell and buy a 3-month EUR/USD FX swap
C. Sell EUR/USD in the spot market, lend EUR for 3 months and borrow USD for 3 months
D. Sell EUR/USD in the spot market, borrow EUR for 3 months and lend USD for 3 months
What is the ISO code for the currency of China?
A. CHY
B. CNR
C. CHR
D. CNY
The "spot basis" of a 2 against 4 months EUR/USD forward/forward swap is:
A. usually the current spot EUR/USD mid-market rate
B. commonly the prevailing 4-month forward EUR/USD mid-rate
C. always the forward EUR/USD bid rate of the first swap leg
D. generally the prevailing 2-month forward EUR/USD mid-rate
If 6-month USD/CAD forward rates are quoted at 40/45, which of the following statements is correct?
A. USD rates are higher than CAD rates in the 6-month
B. CAD rates are higher than USD rates in the 6-month
C. There is a positive USD yield curve
D. There is not enough information to decide
The spot/next repo rate for the 5% Bund 2018 is quoted to you at 1.75-80%. You sell bonds with a market value of EUR 5,798,692.00 through a sell/buy-back. The Repurchase Price is:
A. EUR 5,798,982
B. EUR 5,799,497
C. EUR 5,746,376
D. EUR 5,000,694
The one-month (31-day) GC repo rate for French government bonds is quoted to you at 3.75- 80%. As collateral, you are offered EUR 25,000,000.00 nominal of the 5.5% OAT April 2012, which is worth EUR 28,137,500.00.
The Repurchase Price is:
A. EUR 28,228,360.69
B. EUR 28,229,572.15
C. EUR 25,080,729.18
D. EUR 25,081,805.55
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