You have a short position of 50 EURODOLLAR futures contracts. You can hedge your position by:
A. Selling a FRA for a similar notional amount
B. Buying a FRA for a similar notional amount
C. Selling a call option on the contract
D. Selling a put option on the contract
EURODOLLAR futures are:
A. Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 500,000.00
B. Traded on the Intercontinental Exchange (ICE) and have a face value of USD 1,000,000.00
C. Traded on the Intercontinental Exchange (ICE) and have a face value of USD 500,000.00
D. Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 1,000,000.00
Which of the following is true?
A. The 3-month Sterling (SHORT STERLING) futures contract has a basis point value of GBP 25.00 and a face value of GBP 1,000,000 .00
B. The EUROYEN TIBOR futures contract has a basis point value of JPY 25,000 and a face value of JPY 1,000,000,000
C. The CME EURODOLLAR futures contract has a minimum price interval of one-quarter basis point value (0.0025) for the nearest contract
D. The 3-month EURIBOR futures contract has a minimum price interval of half a basis point value (0.0050) for the nearest contract
Which of the following is true about interest rate swaps (IRS):
A. Both parties know what their future payments will be at the outset of the swap
B. There is payment of principal at maturity
C. Payments are always made gross
D. The fixed rate payer knows what his future payments will be at the outset of the swap
You quote a customer spot AUD/USD at 1.0350-55. The T/N swap is quoted to you at 3/2. The customer asks to buy USD for value tomorrow. What rate should you quote him to break-even against the other rates?
A. 1.0352
B. 1.0353
C. 1.0347
D. 1.0348
You are quoted the following market rates:
Spot GBP/USD 1.5525
9M (272-day) GBP 0.81%
9M (272-day) USD 0.55%
What are the 9-month GBP/USD forward points?
A. -30
B. +29
C. -29
D. +30
The mid-rate for USD/CHF is 0.9300 and the mid-rate for NZD/USD is 0.8560. What is the mid rate for NZD/CHF?
A. 0.7961
B. 1.0864
C. 1.7860
D. 1.2561
You quote a customer a spot cable 1.6050-55 in USD 3,000,000.00. If they sell USD to you, how much GBP will you be short of?
A. 4,816,500.00
B. 1,869,158.88
C. 1,868,57677
D. 4,815,000.00
You are quoted the following market rates:
spot USD/SEK 6.3850
1M (30-day) USD 0.40%
1M (30-day) SEK 1.15%
What is 1-month USD/SEK?
A. 6.4250
B. 6.3810
C. 6.7850
D. 6.3890
If spot AUD/USD is quoted to you as 1.0420-25 and 1-month forward AUD/USD is quoted to you as 28/23, at what rate can you buy USD 1-month outright?
A. 1.0448
B. 1.0402
C. 1.0397
D. 1.0392
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