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ACI 3I0-012 - ACI Dealing Certificate

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Total 740 questions

What is the ISO code for the Argentine peso?

A.

ARP

B.

ARS

C.

ARA

D.

AED

You quote the following rates to a customer:

Spot GBP/CHF 1.4535-45

6MGBP/CHF swap 46/41

At what rate do you sell GBP to a customer 6-month outright?

A.

1.4494

B.

1.4499

C.

1.4504

D.

1.4586

Today, you sold 10 December EURODOLLAR futures contracts at 99.50. The closing price is fixed by the exchange at 99.375. What variation margin will be due?

A.

You will have to pay USD 312.50

B.

You will receive USD 312.50

C.

You will have to pay USD 3,125.00

D.

You will receive USD 3,125.00

The spot/week repo rate for the 4.25% OAT 2015 is quoted to you at 2.35-38%. You buy bonds with a market value of EUR 3,295,500.00 through a sell/buy-back. The Repurchase Price is:

A.

EUR 3,297,004.19

B.

EUR 3,297,005.86

C.

EUR 3,297,025.09

D.

EUR 3,296,985.23

An important reason for trading a futures contract rather than an FRA is:

A.

The expense of settling an FRA

B.

The reduced counterparty risk on a futures exchange

C.

The reduced basis risk on futures

D.

The superior interest rate risk on FRAs

You are quoted the following rates:

Spot GBP/CHF 1.4535-45

3M GBP/CHF swap 22/19

At what rate can you sell GBP against CHF outright 3-month?

A.

1.4523

B.

1.4526

C.

1.4513

D.

1.4516

Which of the following currency risks could only be hedged by a non deliverable forward (NDF)?

A.

an exposure in Latvian Lats (LVL)

B.

an exposure in Russian Rouble (RUB)

C.

an exposure in Romanian Leu (RON)

D.

an exposure in Bulgarian Lev (BGN)

It is June. You are over-borrowed from October to January on your deposit book. How would you hedge using FRAs?

A.

Sell 3x6

B.

Buy 3x6

C.

Sell 4x7

D.

Buy 4x7

How would you delta hedge an ‘at-the-money’ long call option?

A.

Go short of the underlying commodity equal to 50% of the size of the option contract

B.

Go long of the underlying commodity equal to 50% of the size of the option contract

C.

Go long of the underlying commodity equal to the full size of the option contract

D.

Go short of the underlying commodity equal to the full size of the option contract

A Eurodollar futures price of 99.685 implies:

A.

A forward-forward rate of 0.685%

B.

A forward-forward rate of 0.315%

C.

Current 3-month LIBOR of 0.6850%

D.

Current 3-month LIBOR of 0.3150%

If you are trading spot on an ATS (Automated Trading System) and see a price for EUR/USD of

1.3050-53. If you hit the button marked “YOURS”, what have you done?

A.

Bought EUR at 1.3053

B.

Bought USD at 1.3053

C.

Sold EUR at 1.3050

D.

Sold USDatl.3050

EUR/USD is 1.3080-83 and EUR/CHF is 1.2160-63. What price would you quote to a customer who wishes to sell CHF against USD?

A.

1.0759

B.

0.9299

C.

1.5909

D.

0.9295