ACI 3I0-012 Online Practice Questions and Exam Preparation

ACI 3I0-012 Online Questions & Answers

• Question 611:

  Today's date is Thursday 12th December. What is the spot value date? Assume no bank holidays.

  A. 14th December
  B. 15th December
  C. 16th December
  D. 17th December
  C. 16th December

• Question 612:

  A broker offers a dealer a financial incentive in the form of a price reduction to the previously agreed brokerage arrangements between the firms.

  A. This is considered as a normal discount for bulk business.
  B. The offer should be agreed only by directors or senior management on each side and should be recorded in writing.
  C. The offer should be expressly approved by both the individuals concerned and clearly recorded in writing.
  D. The Model Code strongly discourages such practices.
  B. The offer should be agreed only by directors or senior management on each side and should be recorded in writing.

• Question 613:

  Which of following is not true?

  A. Inter-bank market participants have a duty to make absolutely clear whether the prices they are quoting are firm or merely indicative.
  B. It is the duty of the dealer to periodically confirm with the broker the validity of his price.
  C. It is the responsibility of the dealer to ensure that prices given to a broker are taken off if they have not been hit or were subject to a time limit.
  D. No deal is done if one counterparty is unable to conclude a deal due to credit line problems and a name switch is not found within a reasonable period of time.
  B. It is the duty of the dealer to periodically confirm with the broker the validity of his price.

• Question 614:

  You are quoted the following market rates:

  spot EUR/GBP 0.6670 6M (182-day) EUR 2.35% 6M (182-day) GBP 375%

  What is 6-month EUR/GBP?

  A. 0.6675
  B. 0.6715
  C. 0.6717
  D. 0.6718
  B. 0.6715

• Question 615:

  If a dealer has a 6-month USD asset and a 3-month USD liability, how could he hedge his balance sheet exposure in the FRA market?

  A. Buy 3x6
  B. Sell 3x6
  C. Buy 0x6
  D. Sell 6x9
  A. Buy 3x6

• Question 616:

  Bank XYZ calls you for a quote in EUR/USD for EUR 50,000,000.00. If you decide to quote, which of the following is true?

  A. You must be prepared to deal EUR 50,000,000.00.
  B. You may quote without stating the amount you are prepared to deal.
  C. You are only committed to deal in a marketable amount.
  D. You must be prepared to deal for more than EUR 50,000,000.00 in case Bank XYZ wishes to.
  A. You must be prepared to deal EUR 50,000,000.00.

• Question 617:

  A sold JUN 3-month STIR-future should be reported in the gap report as of 22 May:

  A. as a given deposit with a term of one month and a taken deposit with a term of four months
  B. as a taken deposit with a term of one month
  C. as a taken deposit with a term of one month and a given deposit with a term of four months
  D. as a given deposit with a term of four months
  A. as a given deposit with a term of one month and a taken deposit with a term of four months

• Question 618:

  A dealer has been invited by a broker to go to an exclusive club for the third time in a week. He should:

  A. agree, since entertainment is a normal part of business
  B. refer this to senior management
  C. agree but insist on paying half the cost
  D. agree, if the broker pays for the event but does not attend it
  B. refer this to senior management

• Question 619:

  What is the Purchase Price of a repo?

  A. The market value of bond collateral at the start of the repo at the clean price of the bond
  B. The market value of bond collateral at the start of the repo at the dirty price of the bond
  C. The amount of cash actually paid for collateral at the start of the repo
  D. The amount of cash actually paid for collateral at the start of the repo plus repo interest
  C. The amount of cash actually paid for collateral at the start of the repo

• Question 620:

  When should confirmations be sent out?

  A. one day after the deal is done
  B. within two hours of the trade being booked and as soon as technologically possible
  C. immediately after having received the confirmation of the counterparty
  D. no later than the value date of the first leg of the transaction
  B. within two hours of the trade being booked and as soon as technologically possible