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3I0-012 Exam Dumps - ACI-Financial Questions and Answers

Question # 14

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

Options:

A.

Selling a FRA for a similar notional amount

B.

Buying a FRA for a similar notional amount

C.

Selling a call option on the contract

D.

Selling a put option on the contract

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Question # 15

Which of the following is always a secured instrument?

Options:

A.

ECP

B.

Repo

C.

Interbank deposit

D.

CD

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Question # 16

Today’s spot value date is the 30th of June. What is the maturity date of a 2-month EUR deposit deal today? Assume no bank holidays.

Options:

A.

27th August

B.

30th August

C.

31st August

D.

1 September

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Question # 17

Which of the following does the Model Code mention with regards to recording telephone conversations?

Options:

A.

There is no need to inform new counterparties and clients that conversations will be recorded.

B.

It is normal practice that tapes and other records should be kept for at least twelve months.

C.

The periods for which tapes and other records should be retained should reflect the way in which the terms and conditions of transactions have been agreed, and the duration of transactions.

D.

Dealers and other staff are reminded that telephones and electronic text messaging systems in the firm are intended for business and private use and that conversations and exchanges of text messages should be conducted in a casual manner.

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Question # 18

If a 6-month AUD/NZD swap is quoted 173/165, which of the following statements would you consider to be correct?

Options:

A.

6-month AUD rates are higher than 6-month NZD rates

B.

6-month AUD rates are lower than 6-month NZD rates

C.

Spot AUD/NZD will be higher by approximately 170 points in 6 months

D.

The AUD yield curve is positive, whilst the NZD curve is negative

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Question # 19

The “spot basis” of a 2 against 4 months EUR/USD forward/forward swap is:

Options:

A.

usually the current spot EUR/USD mid-market rate

B.

commonly the prevailing 4-month forward EUR/USD mid-rate

C.

always the forward EUR/USD bid rate of the first swap leg

D.

generally the prevailing 2-month forward EUR/USD mid-rate

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Question # 20

Brokers shall not reveal the identity of a counterparty unless:

Options:

A.

They are forced to do so.

B.

Explicitly authorised to do so by the counterparty.

C.

They know the counterparty very well.

D.

They are asked by their senior management to do so.

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Question # 21

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?

Options:

A.

1.0352

B.

1.0353

C.

1.0347

D.

1.0348

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Question # 22

If the value date of a forward USD/JPY transaction is declared a holiday in either New York or Tokyo, the correct value date will be:

Options:

A.

the value date of the financial centre that is open

B.

the next business day of the financial centre which is closed

C.

the next business day when both New York and Tokyo are open

D.

the previous business day when both New York and Tokyo are open

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Question # 23

What is an outright forward FX transaction?

Options:

A.

A spot sale (purchase) and a forward purchase (sale)

B.

A spot sale (purchase) and a forward sale (purchase)

C.

An exchange of currencies on a date beyond spot and at a price fixed today

D.

An exchange of currencies on a date beyond spot

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Exam Code: 3I0-012
Exam Name: ACI Dealing Certificate
Last Update: Feb 23, 2025
Questions: 740
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