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ACI 3I0-013 - ACI Operations Certificate challenging

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Total 386 questions

If an overnight EUR/USD FX swap is traded on Tuesday, 19 June, and there are no currency holidays during the week of June 18 - 22, what would be the value dates of the two swap legs?

A.

18 June against 19 June

B.

19 June against 20 June

C.

20 June against 21 June

D.

21 June against 22 June

You are an issuer of a straight bond and you want to change your exposure from a fixed rate to a floating rate because you expect a fail in interest rates. What would you do?

A.

Buy an IRS

B.

Sell an IRS

C.

Buy a FRA

D.

Do nothing because the bond coupon is already a fixed rate

Generally, "initial margin" means:

A.

The notional amount of a contract

B.

A deposit amount per contract that is determined by the futures exchange

C.

The maximum net loss during the contract period

D.

The minimum net loss during the contract period

In order to be introduced in a controlled manner, which areas should be involved before a new product or business strategy is launched?

A.

Product Control, Legal and Compliance, Front Office, Treasury and Operations

B.

Senior management only

C.

Front Office and Treasury Middle Office

D.

All relevant areas

Which department is responsible for originating deals?

A.

The front office

B.

The back office

C.

The middle office

D.

The compliance department