ACI 3I0-012 Online Practice Questions and Exam Preparation

ACI 3I0-012 Online Questions & Answers

• Question 371:

  When a broker needs to switch a name this should be done:

  A. only after consultation with the local regulator
  B. only if the switching transaction is done at the current market rate
  C. only provided that such transactions are identified as switching transactions
  D. only after approval by the broker's senior management
  C. only provided that such transactions are identified as switching transactions

• Question 372:

  A US security yields 7% on an annually-compounded bond basis. What is the equivalent annually- compounded money market yield?

  A. 7.09%
  B. 7.03%
  C. 6.90%
  D. 6.95%
  C. 6.90%

• Question 373:

  A bank that has quoted a firm price is obliged to deal:

  A. At that price
  B. At that price in a marketable amount
  C. At that price in a marketable amount, provided the counterparty's name is acceptable
  D. At that price in a marketable amount, provided the counterparty's name is acceptable and the market price has not moved excessively
  C. At that price in a marketable amount, provided the counterparty's name is acceptable

• Question 374:

  You are quoted the following market rates:

  spot GBP/USD. 1.6530

  9M (272-day) GBP. 3.60%

  9M (272-day) USD. 1.95%

  What are the 9-month GBP/USD forward points?

  A. +206
  B. +197
  C. -195
  D. -204
  C. -195

• Question 375:

  How is an outright forward FX transaction quoted?

  A. Forward points
  B. Full forward exchange rate
  C. Depends on whether is interbank or to a customer
  D. Depends on the currency pair and sometimes the term
  B. Full forward exchange rate

• Question 376:

  You quote a price to a broker. It is hit by another bank, but you are not informed until some time afterward that the deal has been done. Who is to blame?

  A. You are, as it is your responsibility to check periodically that the price has not been dealt upon.
  B. The broker is, as he must immediately tell you that your price has been dealt upon.
  C. The other bank is, since it did not immediately seek confirmation.
  D. All the parties, particularly you and the other bank.
  B. The broker is, as he must immediately tell you that your price has been dealt upon.

• Question 377:

  A 6-month SEK/NOK Swap is quoted 40/50. Spot is 1.1145. Which of the following statements is correct?

  A. SEK interest rates are higher than NOK interest rates
  B. NOK interest rates are higher than SEK interest rates
  C. NOK interest rates are higher than USD interest rates
  D. SEK interest rates and NOK interest rates are converging
  B. NOK interest rates are higher than SEK interest rates

• Question 378:

  If spot USD/HKD is 7.7600 and USD/SGD is 1.2350, what is SGD/HKD?

  A. 9.5836
  B. 6.2834
  C. 0.1591
  D. 0.1043
  B. 6.2834

• Question 379:

  Who typically communicates the bank's asset and liability management policy internally?

  A. the management board
  B. the chief risk officer
  C. the bank's ALCO
  D. the Risk and Capital Committee
  C. the bank's ALCO

• Question 380:

  What is the recommended follow-up procedure in case of a settlement discrepancy?

  A. All investigation cases should be handled within the same day B. All investigation cases should be handled within 2 days
  B. Investigation cases received before noon should be handled within the same day and those received after midday should be handled before noon the next day
  C. Investigation cases received before noon should be handled within the same day and those received after midday within 24 hours
  C. Investigation cases received before noon should be handled within the same day and those received after midday within 24 hours