ACI 3I0-012 Online Practice Questions and Exam Preparation

ACI 3I0-012 Online Questions & Answers

• Question 171:

  If I say that I have "bought and sold" EUR/USD in an FX swap, what have I done?

  A. Bought EUR and sold USD spot, and sold EUR and bought USD forward
  B. Bought USD and sold EUR spot, and sold USD and bought EUR forward
  C. Synthetically taken a USD loan in exchange for making a EUR loan with the same counterparty
  D. Sold EUR/USD spot and bought back EUR/USD forward
  A. Bought EUR and sold USD spot, and sold EUR and bought USD forward

• Question 172:

  A short USD put/JPY call option:

  A. Gives you the right but not the obligation to sell USD and buy JPY
  B. Gives you the right but not the obligation to buy USD and sell JPY
  C. Gives your counterparty the right but not the obligation to sell USD and buy JPY
  D. Gives your counterparty the right but not the obligation to buy USD and sell JPY
  C. Gives your counterparty the right but not the obligation to sell USD and buy JPY

• Question 173:

  A CD with a face value of EUR 10,000,000.00 and a coupon of 3% was issued at par for 182 days and is now trading at 3.10% with 120 days remaining to maturity. What has been the capital gain or loss since issue?

  A. -EUR 52,161.00
  B. -t-EUR 47,839.00
  C. -EUR 3,827.67
  D. Nil
  C. -EUR 3,827.67

• Question 174:

  A 3-month (91-day) deposit of EUR25 million is made at 3.25%. At maturity, it is rolled over three times at 3.55% for 90 days, 4.15% for 91 days and 4.19% for 89 days. At the end of 12 months, how much is repaid (principal plus interest)?

  A. EUR 25,962,011.01
  B. EUR 25,959,714.91
  C. EUR 25,948,878.47
  D. EUR 25,948,648.82
  A. EUR 25,962,011.01

• Question 175:

  The buyer of a cap:

  A. Receives compensation if a reference interest rate falls below an agreed level
  B. Pays compensation if a reference interest rate falls below an agreed level
  C. Receives compensation if a reference interest rate rises above an agreed level
  D. Pays compensation if a reference interest rate rises above an agreed level
  C. Receives compensation if a reference interest rate rises above an agreed level

• Question 176:

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

  A. On an special number known only to the chief dealer.
  B. On a number located in the office of the internal auditor.
  C. Secured so that reported transactions cannot be erased without senior management approval.
  D. Secured by recordings that are stored for a suitable period.
  C. Secured so that reported transactions cannot be erased without senior management approval.

• Question 177:

  Which of the following is not an officially published settlement or reference rate?

  A. LIBID
  B. LIBOR
  C. EURIBOR
  D. EURO LIBOR
  A. LIBID

• Question 178:

  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
  C. -29

• Question 179:

  Which of the following is not true?

  A. The Model Code is published by ACI's Committee for Professionalism.
  B. The Model Code sets out the practicalities of dealing in those financial instruments listed in the Model Code.
  C. The Model Code is an attempt to deal with the legal issues relating to every conceivable financial instrument.
  D. The Model Code sets out the manner and spirit in which foreign exchange and money market business should be conducted in order that participants maintain high standards of professionalism, integrity and ethical conduct.
  C. The Model Code is an attempt to deal with the legal issues relating to every conceivable financial instrument.

• Question 180:

  What steps will the CFP of the ACI probably not undertake after having been formally notified by one of the parties of a breach of the letter or spirit of the Model Code?

  A. consult the local ACI national association
  B. bring the matter to the appropriate court of justice
  C. examine the complaint
  D. bring the matter to the attention of the appropriate regulatory body
  B. bring the matter to the appropriate court of justice