ACI 3I0-012 Online Practice Questions and Exam Preparation

ACI 3I0-012 Online Questions & Answers

• Question 201:

  What is an FX swap?

  A. An exchange ot 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 202:

  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 authoritq 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 203:

  Responsibility for the activities of all personnel engaged in dealing (both dealers and support staff) for both principals and brokers lies with:

  A. the market supervisor
  B. the national ACI association
  C. the management of such organizations
  D. the central bank
  C. the management of such organizations

• Question 204:

  The Liquidity Coverage Ratio imposed by Basel III requires a bank:

  A. to keep enough highly liquid assets to cover its net liabilities for the next 10 days to guard against severe liquidity stress
  B. to keep enough highly liquid assets to cover its net liabilities for the next 30 days to guard against severe liquidity stress
  C. to keep enough highly liquid assets to cover its net liabilities for the next 60 days to guard against severe liquidity stress
  D. to retain enough liquidity to cover its assets against severe default risk
  B. to keep enough highly liquid assets to cover its net liabilities for the next 30 days to guard against severe liquidity stress

• Question 205:

  Under which circumstances are banks allowed to park positions with a counterparty?:

  A. It is forbidden to park positions.
  B. In conditions of exceptional volatility.
  C. If the two counterparties agree.
  D. If approved by senior management.
  A. It is forbidden to park positions.

• Question 206:

  What is the maximum maturity of an unsecured USCP?

  A. One year
  B. 270 days
  C. 183 days
  D. 5 years
  B. 270 days

• Question 207:

  Which one of the following formulae is correct?

  A. Long a straight bond + pay fixed on a swap = long a synthetic Floating Rate Note
  B. Long a straight bond + pay floating on a swap = long a synthetic Floating Rate Note
  C. Short a straight bond + receive fixed on a swap = long a synthetic Floating Rate Note
  D. Short a straight bond + pay fixed on a swap = long a synthetic Floating Rate Note
  A. Long a straight bond + pay fixed on a swap = long a synthetic Floating Rate Note

• Question 208:

  When is a broker allowed to assume a deal is closed:

  A. When one of the principals confirms the deal.
  B. When the principals give a written undertaking for all deals done at the end of the day.
  C. When an acknowledgement is received from the principal that the deal is done.
  D. When both back offices acknowledge the deal.
  C. When an acknowledgement is received from the principal that the deal is done.

• Question 209:

  Which of the following statements about the Net Stable Funding Ratio is correct?

  A. Assets are classified with an available stable funding factor (ASF).
  B. Liabilities are classified with a required stable funding factor (RSF).
  C. The ratio of available funding to required funding has to be higher than 50%n
  D. Equity has an available stable funding factor of 100%.
  D. Equity has an available stable funding factor of 100%.

• Question 210:

  If you buy GBP 2,000,000 against USD at 1.6020; GSP 1,000,000 at 1.6035 and GBP 3,000,000 at 1.6028, what is the average rate of your position?

  A. 1.6035
  B. 1.6027
  C. 1.6030
  D. 1.6023
  B. 1.6027