ACI 3I0-008 Online Practice Questions and Exam Preparation

ACI 3I0-008 Online Questions & Answers

• Question 261:

  Click on the Detail Button to view the Formula Sheet. One of your brokers asks you to buy and sell EUR/USD at the same price net of brokerage in order to allow him to clear a transaction.

  A. You must have prior senior management approval.
  B. You must have the authority to switch names.
  C. You must execute such transactions as promptly as possible within policy guidelines .
  D. All of the above.
  D. All of the above.

• Question 262:

  Click on the Detail Button to view the Formula Sheet. Bank A pays for EURO 5 m at 1.1592. Bank B offers EURO 10 m at 1.1597. Broker XYZ quotes to the market EURO / USD 1.1592/97. Bank C takes the offer at 97. The broker is obliged to reveal:

  A. The name of Banks A and B.
  B. The name of Bank B only.
  C. The amount that was bid but not the name of Bank A.
  D. None of the above
  B. The name of Bank B only.

• Question 263:

  Click on the Detail Button to view the Formula Sheet. Automatic trading systems for interbank spot FX display the best prices entered into the systems by users and:

  A. Display the names of those users along their prices
  B. Offer pre-trade anonymity to users quoting prices
  C. Offer pre and post-trade anonymity to users quoting prices
  D. Offer users the choice of whether to remain anonymous
  B. Offer pre-trade anonymity to users quoting prices

• Question 264:

  Click on the Detail Button to view the Formula Sheet. To curb attempted fraud, banks should:

  A. Require greater vigilance by the management and staff.
  B. Take particular care when the beneficiary is a third party to the deal.
  C. Ensure that details of all telephone deals which do not include pre-agreed standard settlement instructions are confirmed by telex or similar means without delay.
  D. All of the above.
  D. All of the above.

• Question 265:

  Click on the Detail Button to view the Formula Sheet. The use of mobile phones within the dealing room is not considered good practice except:

  A. In volatile markets.
  B. When dealing with emerging markets.
  C. In an emergency.
  D. When quoting for information only.
  C. In an emergency.

• Question 266:

  Click on the Detail Button to view the Formula Sheet. What are the secondary market proceeds of a CD with a face value of EUR 5 million and a coupon of 3% that was issued at par for 182 days and is now trading at 3% but with only 7 days remaining to maturity?

  A. EUR 4,997,085.03
  B. EUR 5,000,000.00
  C. EUR 5,071,086.45
  D. EUR 5,072,874.16
  D. EUR 5,072,874.16

• Question 267:

  Click on the Detail Button to view the Formula Sheet. What is an FX swap?

  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. None of the above
  B. A spot sale (purchase) and a forward purchase (sale) of two currencies agreed simultaneously between two parties

• Question 268:

  Click on the Detail Button to view the Formula Sheet. A 3-month (90-day) USD deposit is 5.5625% and 6-month (180-day) USD deposit is 5.75%. What is the 3x6 USD deposit rate?

  A. 5.8342%
  B. 5.8561%
  C. 5.8425%
  D. 5.75%
  B. 5.8561%

• Question 269:

  Click on the Detail Button to view the Formula Sheet.

  You are quoted the following market rates:

  spot EUR/CHF 1.1005

  6M (180-day) EUR 3.45%

  6M (180-day) CHF 1.25%

  What are the 6-month EUR/CHF forward points?

  A. +121
  B. +120
  C. -116
  D. -119
  D. -119

• Question 270:

  Click on the Detail Button to view the Formula Sheet. A futures clearing house is:

  A. The buyer to each seller and the seller to each buyer
  B. A clearing agent only
  C. The self-regulatory organisation for the futures exchange
  D. The owner of the futures exchange
  A. The buyer to each seller and the seller to each buyer