ACI Dealing Certificate
Last Update May 1, 2024
Total Questions : 740
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The mid-rate for USD/CHF is 0.9300 and the mid-rate for NZD/USD is 0.8560. What is the mid rate for NZD/CHF?
It is up to the vendors of electronic dealing platforms to ensure that dealers are trained to use their systems.
When dealing with customers, financial market professionals are advised by the Model Code to clarify that all transactions are entered into solely at each partys risk by explicitly agreeing in writing that:
A customer sells a LIFFE Euro Swiss futures contract. Which of the following risks could he be trying to hedge?
The two-week repo rate br the 5.25% bund 2007 is quoted to you at 3.33-38%. You agree to reverse in bonds worth EUR 266,125,000 with no initial margin. You would earn repo interest ot
A 7-day piece of USCP is quoted at a rate of discount of 1.75%. What is its true yield?
Half an hour ago you were made a price in USD/CAD of 1.5250-55 and sold USD 10 million. The price is now 1.5232-37 and you square your position. What is your profit or loss?
You need to buy USD 5,000,000 against GBP and are quoted the following rates concurrently by two separate banks: 1.6045-50 and 1.6047-52. At which rate do you trade?
You are quoted the following market rates:
spot EUR/GBP 0.6670
6M (182-day) EUR 2.35%
6M (182-day) GBP 375%
What is 6-month EUR/GBP?
You have written a EUR/USD knock-in option for a bank counterparty. At 6pm New York time on Friday, the instrike point is breached. This is confirmed on screens. The counterparty contacts you to confirm that the option has been knocked in.
You bought a EUR 8,000,000 6x9 FRA at 4.50%. The settlement rate is 3-month (90-day) EURIBOR, which is fixed at 3.50%. What is the settlement amount at maturity?
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?
If spot GBP/CHF is quoted 1.4275-80 and the 3-month forward outright is 1.4254-61, what are the forward points?
You are quoted spot USD/NOK 5.7220-28 and USD/SEK 6.3850-58, at what price can you buy NOK against SEK?
Which of the following are specifically quoted in terms of a yield-to-maturity?
A 6-month (182-day) investment of CAD 15,500,000.00 yields a return of CAD 100,000.00. What is the rate of return?
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?
Which of the following currency risks could only be hedged by a non deliverable forward (NDF)?
Prudential regulation of banking book liquidity risk is dealt with by the Basel Committee (Basel II / Basel III) in the context of:
Principals who enter into an interest rate swap with the intention of shortly afterwards assigning or transferring the swap to a third party:
You are quoted the following market rates:
Spot AUD/USD 1.0380-85
0/N AUD/USD swap 2.42/2.35
TIN AUD/USD swap 0.82/0.79
S/N AUD/USD swap 0.80/0.77
Where can you buy AUD against USD for value tomorrow?
A sold JUN 3-month STIR-future should be reported in the gap report as of 22 May:
When initially negotiating an interest rate swap, a principal indicated his intention to assign it to a third party. In executing such a transfer:
A dealer does the following deals in EUR/USD:
buys EUR 1 m at 11020
sells EUR 3 m at 1.1022
buys EUR 2 m at 1.1002
buys EUR 1.5 m at 1.1012
What position does the dealer now have?
You are entering into a swap as a fixed rate receiver with Party A and into an offsetting position with party B. All other things being equal, which of the scenarios below will lead to the greatest increase in the sum of the Credit Value Adjustments for A and B?
What does the Model Code advise regarding the taping of telephone conversations?
You wish to sell a customer GBP/USD for value tomorrow. How can you hedge yourself?
The one-month (31-day) GC repo rate for French government bonds is quoted to you at 3.75- 80%. As collateral, you are offered EUR 25,000,000.00 nominal of the 5.5% OAT April 2015, which is worth EUR 28,137,500.00. If you impose an initial margin of 1%, the Repurchase Price is:
What type of risk would describe the failure of a back office to make adequate margin calls on repo positions?
What does the term “mine” mean when given in response to an FX spot quotation?
Which of the following is a measure of a bank’s gross exposure to foreign exchange rate risk?
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:
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?
Claims should be communicated in writing via e-mail or preferably by authenticated SWIFT. What information should be provided in the claim?
What is the value date of a 6-month outright forward FX transaction dealt today, if today’s spot date is Monday, 30th June? Assume there are no bank holidays.
Which one of the following statements regarding the variance-covariance method for calculating value-at-risk is true?
By what means should a financial institution preferably submit SSI changes and notifications to its clients?
Today is Monday, 8th December. You sell a 9x12 USD FRA for value Thursday, 10th September next year. On what date is the settlement amount due to be paid or received (assuming that there are no holidays)?
Which of the following currencies is quoted on an ACT/365 basis for the calculation of interest on interbank deposits in London?
Your GBP/CHF rate is 1.3710-15. How many GBP would your customer have to give you to buy CHF 10,000,000.00?
If the issuer of the collateral used in a repo defaults during the term of the transaction, who suffers the loss?
You buy a 181-day 2.75% CD with a face value of USD 1,500,000.00 at par when it is issued. You sell it in the secondary market after 150 days at 2.60%. What is your holding period yield?
Which of the following statements best describes the conditions under which a prime broker may accept a trade given up?
Under which circumstances are banks allowed to park positions with a counterparty?:
If a dealer has interest on one side, and the other side is dealt away, the broker should:
What is the recommended follow-up procedure in case of a settlement discrepancy?
A customer based in the UK exports automotive parts to the US. His main competitor is in France. What type of exposure to currency risk is posed by movements in EUR/USD?
Between which departments are clear and structured escalation procedures required for the management of incorrect funding balances?
Which of the following statements about the Net Stable Funding Ratio is correct?
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?
When do bank participants have a duty to make absolutely clear whether the prices they are quoting are firm or merely indicative?
Regarding access to production systems, which of the following is incorrect?
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?
How much is one big figure worth per million of base currency if EUR/GBP is 0.8990?
You bought a USD 4,000000 6x9 FRA at 6.75%. The settlement rate is 3-month (90-day) BBA LIBOR, which is fixed at 5.50%. What is the settlement amount at maturity?
Deliberately inputting incorrect big figures into an electronic dealing platform is:
When performing a gap analysis, into which of the following time buckets should a 5-year floating-rate note with a 6-month LIBOR coupon be slotted?
Which of the following is a Model Code good practice regarding the passing of names?
Once a prime-broker has matched and accepted a trade, separate confirmations must be exchanged between:
Which of the following is not an officially published settlement or reference rate?
Who typically communicates the bank’s asset and liability management policy internally?
What should be done when a voice broker calls “off” at the very instant the dealer hits the broker’s price as “mine” or “yours”?
Which of the following statements about requirements for dealing with limit violations is correct?
What should be done if a broker fails to conclude a transaction at the quoted price and the dealer has to accept a lesser quote to neutralize his risk?
You have bought a 93-day US Treasury bill at 5.63%. What is the true yield?
You are quoted the following rates:
Spot EUR/NOK7.5250-60
O/N EUR/NOK swap 3.10/3.20
T/N EUR/NOK swap 3.12/3.22
S/N EUR/NOK swap 9.35/9.55
At what rate can you sell EUR against NOK for value tomorrow?
Which statement about modern matched-maturity transfer pricing in banks is correct?
You have quoted spot USD/CHF at 0.9423-26. Your customer says “I take 5”. What does he mean?
A corporate wishing to hedge the interest rate risk on its floating-rate borrowing would:
TESTED 02 May 2024
