100% Real ACI 3I0-012 Exam - ACI Dealing Certificate Exam Training

Exam Code: 3I0-012
Exam Name: ACI Dealing Certificate
Updated: May 26, 2017
Q&As: 740
Exam Information: http://www.pass4itsure.com/3I0-012.html

 

 

 

 

 

 

 

ACI Exam 3I0-012 Exam Blog Series   

QUESTION 9What is the maximum maturity of an unsecured USCP?
A. One year
B. 270 days
C. 183 days
D. 5 yearsCorrect Answer: B 
QUESTION 10Which party usually takes an initial margin in a classic repo?
A. The buyer
B. The seller
C. Neither
D. BothCorrect Answer: A 
QUESTION 11What are the primary reasons for taking an initial margin in a classic repo?A. Counterparty risk and operational risk
B. Counterparty risk and legal risk
C. Collateral illiquidity and counterparty risk
D. Collateral illiquidity and legal riskCorrect Answer: C 
QUESTION 12What happens when a coupon is paid on bond collateral during the term of a classic repo?
A. Nothing
B. A margin call is triggered on the seller
C. A manufactured payment is made to the seller
D. Equivalent value plus reinvestment income is deducted from the repurchase priceCorrect Answer: C
 QUESTION 13A CD with a face value of EUR 10,000,000.00 and a coupon of 3% was issued at par for 182 days and is
now trading at 3.10% with 120 days remaining to maturity. What has been the capital gain or loss since
issue?
A. -EUR 52,161.00
B. -t-EUR 47,839.00
C. -EUR 3,827.67
D. NilCorrect Answer: C 
QUESTION 14You have taken 3-month (92 days) deposits of CAD 12,000,000.00 at 1.10% and CAD 6,000,000.00 at
1.04%. Minutes later, you quote 3-month CAD 1.09-14% to another bank. The other dealer takes the CAD
18,000,000.00 at your quoted price. What is your profit or loss on this deal?
A. CAD 2,722.19
B. CAD 460.00
C. CAD 3,220.00
D. CAD 2,760.00Correct Answer: D 
QUESTION 15A 7% CD was issued at par, which you now purchase at 6.75%. You would expect to pay:
A. The face value of the CD
B. More than the face value
C. Less than the face value
D. Too little information to decideCorrect Answer: B 
QUESTION 16The tom/next GC repo rate for German government bonds is quoted to you at 1.75-80%. As collateral, you
sell EUR 10,000,000.00 nominal of the 5.25% Bund July 2012, which is worth EUR 11,260,000.00, with no
initial margin. The Repurchase Price is:
A. EUR 10,000,500.00 B. EUR 10,000,486.11
C. EUR 11,260,563.00
D. EUR 11,260,547.36Correct Answer: C 
QUESTION 17The tom/next GC repo rate for German government bonds is quoted to you at 1.75-80%. As collateral, you
sell EUR 10,000,000.00 million nominal of the 5.25% Bund July 2012, which is worth EUR 11,260,000.00.
If you have to give an initial margin of 2%, the Repurchase Price is:
A. EUR 11,035,336.41
B. EUR 11,035,351.74
C. EUR 11,039,752.32
D. EUR 11,039,767.65Correct Answer: D
QUESTION 18A bond is trading 50 basis points special for 1 week, while the 1-week GC repo rate is 3.25%. If you held
GBP 10,500,000.00 of this bond, what would be the cost of borrowing against it in the repo market?
A. GBP 7,551.37
B. GBP 6,544.52
C. GBP 5,537.67
D. GBP 1,006.85Correct Answer: C 
QUESTION 19If EUR/USD is quoted to you as 1.3050-53, does this price represent?
A. The number of EUR per USD
B. The number of USD per EUR
C. Depends on whether the price is being quoted in Europe or the US
D. Depends on whether the price is being quoted interbank or to a customerCorrect Answer: B 
QUESTION 20The seller of a EUR/RUB NDF could be:
A. a potential buyer of EUR against RUB
B. speculating on an appreciation of the Russian Rouble
C. expecting rising EUR/RUB exchange rates
D. a seller of Russian RoubleCorrect Answer: BQUESTION 21Voice-brokers in spot FX act as:
A. Proprietary traders
B. Market-makers
C. Matched principals
D. Agents Correct Answer: D 
QUESTION 22Are the forward points significantly affected by changes in the spot rate?
A. Never
B. For very large movements and longer terms
C. Always
D. Spot is the principal influenceCorrect Answer: B
 QUESTION 23In GBP/CHF, you are quoted the following prices by four different banks. You are a buyer of CHF.
Which is the best quote for you?
A. 1.4340
B. 1.4343
C. 1.4337
D. 1.4335Correct Answer: B 
QUESTION 24Which of the following CHF/JPY quotes that you have received is the best rate for you to buy CHF?
A. 105.80
B. 105.75
C. 105.70
D. 105.85Correct Answer: C 
QUESTION 25You have quoted spot USD/CHF at 0.9423-26. Your customer says "I take 5". What does he mean?
A. He buys CHF 5,000,000.00 at 0.9423
B. He buys CHF 5,000,000.00 at 0.9426
C. He buys USD 5,000,000.00 at 0.9423
D. He buys USD 5,000,000.00 at 0.9426Correct Answer: D
 

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