Download ACI.3I0-012.PracticeTest.2018-07-12.444q.vcex

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Exam ACI Dealing Certificate
Number 3I0-012
File Name ACI.3I0-012.PracticeTest.2018-07-12.444q.vcex
Size 1 MB
Posted Jul 12, 2018
Download ACI.3I0-012.PracticeTest.2018-07-12.444q.vcex

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Demo Questions

Question 1

You are quoted the following market rates: 
spot USD/SEK 6.3850 
1M (30-day) USD 0.40% 
1M (30-day) SEK 1.15% 
What is 1-month USD/SEK?


  1. 6.4250
  2. 6.3810
  3. 6.7850
  4. 6.3890
Correct answer: D



Question 2

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?


  1. -30
  2. +29
  3. -29
  4. +30
Correct answer: C



Question 3

You quote a customer spot AUD/USD at 1.0350-55. The T/N swap is quoted to you at 3/2. The customer asks to buy USD for value tomorrow. 
What rate should you quote him to break-even against the other rates?


  1. 1.0352
  2. 1.0353
  3. 1.0347
  4. 1.0348
Correct answer: A



Question 4

Which of the following is true about interest rate swaps (IRS):


  1. Both parties know what their future payments will be at the outset of the swap
  2. There is payment of principal at maturity
  3. Payments are always made gross
  4. The fixed rate payer knows what his future payments will be at the outset of the swap
Correct answer: D



Question 5

Which of the following is true?


  1. The 3-month Sterling (SHORT STERLING) futures contract has a basis point value of GBP 25.00 and a face value of GBP 1,000,000 .00
  2. The EUROYEN TIBOR futures contract has a basis point value of JPY 25,000 and a face value of JPY 1,000,000,000
  3. The CME EURODOLLAR futures contract has a minimum price interval of one-quarter basis point value (0.0025) for the nearest contract
  4. The 3-month EURIBOR futures contract has a minimum price interval of half a basis point value (0.0050) for the nearest contract
Correct answer: C



Question 6

EURODOLLAR futures are:


  1. Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 500,000.00
  2. Traded on the Intercontinental Exchange (ICE) and have a face value of USD 1,000,000.00
  3. Traded on the Intercontinental Exchange (ICE) and have a face value of USD 500,000.00
  4. Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 1,000,000.00
Correct answer: D



Question 7

You have a short position of 50 EURODOLLAR futures contracts. You can hedge your position by:


  1. Selling a FRA for a similar notional amount
  2. Buying a FRA for a similar notional amount
  3. Selling a call option on the contract
  4. Selling a put option on the contract
Correct answer: A



Question 8

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?


  1. Buy 3x6
  2. Sell 3x6
  3. Buy 0x6
  4. Sell 6x9
Correct answer: A



Question 9

What is the Overnight Index for EUR?


  1. EURIBOR
  2. EONIA
  3. EUREPO
  4. EURONIA
Correct answer: B



Question 10

You bought a CAD 8,000,000.00 6x9 FRA at 1.95%. The settlement rate is 3-month (90-day) BBA LIBOR, which is fixed at 0.9500%. 
What is the settlement amount at maturity?


  1. You pay CAD 20,000.00
  2. You receive CAD 20,000.00
  3. You pay CAD 19,952.61
  4. You receive CAD 19,952.61
Correct answer: C









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