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ACI 3I0-013 - ACI Operations Certificate challenging

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Page: 7 / 12
Total 386 questions

Which combination of risks: market risk, settlement risk, basis risk, counterparty risk, is associated with a forward FX deal?

A.

Market risk and settlement risk

B.

Market risk, settlement risk and basis risk

C.

Market risk, settlement risk and counterparty risk

D.

Settlement risk and counterparty risk

If a dealer buys 1,000,000,00 EUR/USD at 1.3522, 2,000,000,00 EUR/USD at 1.3532, 3,000,000.00 EUR/USD at 1.3575 and sells 1,000,000,00 EUR/USD at 1.3585, what position is he left with?

A.

Long 5,000,000.00 EUR/USD at 1.3552

B.

Long 5,000,000.00 EUR/USD at 1.3545

C.

Short 5,000,000.00 EUR/USD at 1.3585

D.

Short 5,000,000.00 EUR/USD at 1.3545

The risk associated with the failure of the overall financial system is best described as:

A.

Operational Risk

B.

Market Risk

C.

Systemic Risk

D.

Credit Risk

You request use of funds from your agent bank for 1 day on an amount of EUR 100,000,000.00, EONIA was 0.812% and the ECB deposit facility rate is 0.50%. What use of funds settlement amount should you expect?

A.

EUR 1,388.89

B.

EUR 1,561.11

C.

EUR 2,255.56

D.

EUR 2,951.39

Two days ago, your dealer sold EUR 500,000.00 against JPY. JPY 62,750,000 were credited to your JPY nostro account. The deal was made at what rate?

A.

At 0.1255

B.

At 1.2550

C.

At 12.5500

D.

At 125.50

Your money market dealer has lent NZD 5,000,000.00 at 3,00% for 6 months (183 days). How much must the counterparty pay back to you in capital plus accrued interest at maturity?

A.

NZD 5,000,000.00

B.

NZD 5,076,205.48

C.

NZD 5,076,250.00

D.

NZD 5,075,000.00

Who is responsible for producing the Model Code?

A.

The Federation of Bankers Associations

B.

The International Foreign Exchange Market Practices Committee

C.

The G7 Committee of Central Banks

D.

ACI - The Financial Markets Association

If your trader has dealt a 6-month USD/JPY FX-swap, selling and buying USD 10,000,000.00, will you:

A.

Expect a credit statement on your JPY nostro account on the near date

B.

Be required to obtain and execute the ICMA Master Agreement to document the transaction

C.

Need to instruct your USD nostro bank to pay out USD on the far date

D.

Anticipate no movement of principal, but a cash settlement on the far date

Which of the following statements best describes an asset swap?

A.

A combination of a fixed rate bond and a fixed/floating interest rate swap

B.

An option on fixed/floating interest rate swap

C.

The sale of a bond against cash with a simultaneous agreement to buy the bond at an agreed upon rate and date

D.

The sale of a fixed rate bond against the simultaneous purchase of a floating rate note

If today's spot date were Monday, 1 March, what would be the maturity of a 1-month CHF interbank deposit, assuming that there are no intervening bank holidays?

A.

Tuesday, 30 March

B.

Wednesday, 31 March

C.

Thursday, 1 April

D.

Friday, 2 April