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3I0-012 Real Exam Questions

ACI Dealing Certificate

740 questions available · Page 1 of 74

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Question 1 Single choice

A person who appears to be a technician asks for your help in accessing treasury systems as he has forgotten his list of access codes. The Model Code recommends:

  1. A

    You should provide all reasonable assistance.

  2. B

    You should report the request immediately to senior management.

  3. C

    Do not get involved; you may be at risk.

  4. D

    There is no recommendation in the Model Code.

Show answer and explanation

Correct answer: B

Question 2 Single choice

Where answer phone equipment is used for reporting and recording of off-premises transactions, it should be:

  1. A

    On an special number known only to the chief dealer.

  2. B

    On a number located in the office of the internal auditor.

  3. C

    Secured so that reported transactions cannot be erased without senior management approval.

  4. D

    Secured by recordings that are stored for a suitable period.

Show answer and explanation

Correct answer: C

Question 3 Single choice

What is a long straddle option strategy?

  1. A

    A long call option + long put option with the same strike prices

  2. B

    A short call option + short put option with the same strike prices

  3. C

    A long call option + short put option with the same strike prices

  4. D

    A short call option + long put option with the same strike prices

Show answer and explanation

Correct answer: A

Question 4 Single choice

A dealer does the following deals in EUR/USD:

buys EUR 1 m at 11020 sells EUR 3 m at 1.1022 buys EUR 2 m at 1.1002 buys EUR 1.5 m at 1.1012

What position does the dealer now have?

  1. A

    Long EUR 1.5 m at 1.0984

  2. B

    Short EUP 1.5 m at 1.1036

  3. C

    Long EUR 1.5 m at 1.1012

  4. D

    Short EUR 3.0 mat 1.1025

Show answer and explanation

Correct answer: A

Question 5 Single choice

What is the ISO code for the currency of Hungary?

  1. A

    HUG

  2. B

    HKD

  3. C

    HRN

  4. D

    HUF

Show answer and explanation

Correct answer: D

Question 6 Single choice

You are the fixed-rate payer in a plain vanilla interest rate swap. If your counterparty defaults, your exposure at default is:

  1. A

    greater, the higher the market swap rate and the shorter the term

  2. B

    lower, the lower the market swap rate and the shorter the term

  3. C

    lower, the lower the market swap rate and the longer the term

  4. D

    greater, the higher the market swap rate and the longer the term

Show answer and explanation

Correct answer: D

Question 7 Single choice

What is the correct interpretation of a EUR 2,000,000.00 overnight VaR figure with a 97% confidence level?

  1. A

    A loss of at least EUR 2,000,000.00 can be expected in 97 out of the next 100 days.

  2. B

    A loss of at most EUR 2,000,000.00 can be expected in 3 out of the next 100 days.

  3. C

    A loss of at least EUR 2,000,000.00 can be expected in 3 out of the next 100 days.

  4. D

    A loss of at most EUR 2,000,000.00 can be expected in 6 out of the next 100 days.

Show answer and explanation

Correct answer: C

Question 8 Single choice

An Overnight Indexed Swap (OIS) is:

  1. A

    A fixed-floating money market swap in which the floating rate is an overnight index fixed periodically over the term of the swap

  2. B

    A fixed-floating money market swap in which the floating rate is the mean of the overnight index over the term of the swap

  3. C

    A fixed-floating money market swap in which the floating rate is an overnight index compounded daily

  4. D

    A floating-for-floating rate swap in different currencies in which both floating rates are overnight indexes compounded daily

Show answer and explanation

Correct answer: C

Question 9 Single choice

You have made a price by a Japanese bank in (SD 2,000,000.00 against JPY. They made you 98.95-03 and you took the offer. USD/JPY is now quoted 98.78-81 and you square your position.

What is your profit or loss?

  1. A

    Profit of JPY 340.000

  2. B

    Profit of JPY 1.500,000

  3. C

    Loss of JPY 340.000

  4. D

    LossofJPV 500.000

Show answer and explanation

Correct answer: D

Question 10 Single choice

If you are trading spot on an ATS (Automated Trading System) and see a price for EUR/USD of 1.3050-53.
If you hit the button marked "YOURS", what have you done?

  1. A

    Bought EUR at 1.3053

  2. B

    Bought USD at 1.3053

  3. C

    Sold EUR at 1.3050

  4. D

    Sold USDatl.3050

Show answer and explanation

Correct answer: C