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ACI 3I0-012 Exam pdf
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ACI 3I0-012 Online Exam Practice Questions
QUESTION 1
Which is the day count/annual basis convention for SGD money market deposits?
A. ACT/365
B. ACT/360
C. ACT/ACT
D. 30E/360
Correct Answer: A
QUESTION 2
You 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 2,760.00
Correct Answer: D
QUESTION 3
Whose compliance rules, regulations and best practices should be followed in FX electronic trading?
A. solely those of the electronic trading platforms vendors
B. exclusively ACI\\’s Model Code Best Practices
C. ACI\\’s Model Code Best Practices and ICMA\\’s Market Practice and Regulatory Policy
D. the electronic trading platforms vendors\\’ and the ACIs Model Code Best Practices guidelines
Correct Answer: B
QUESTION 4
What is the Overnight Index for GBP?
A. SONIA
B. STINA
C. STONIA
D. EONIA
Correct Answer: A
QUESTION 5
You bought a EUR 8,000,000 6×9 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?
A. You pay EUR 20,000.00
B. You receive EUR 20,000.00
C. You pay EUR 19,826.52
D. You receive EUR 19,826.52
Correct Answer: C
QUESTION 6
The major difference between futures and OTC instruments like FRAs and interest rate swaps is that futures are:
A. Exchange-traded
B. Guaranteed
C. Standardised
D. All of the above
Correct Answer: D
QUESTION 7
Voice-brokers in spot FX are remunerated with:
A. Commission paid by both parties at rates agreed beforehand
B. A fee paid by the seller
C. Bid/offer spread
D. A share of the bid/offer spread
Correct Answer: A
QUESTION 8
What does the Model Code say about netting?
A. Market participants are strongly recommended to net bilateral transactions with counterparties where activity justifies
it.
B. Market participants should establish payments netting agreements with cross-border counterparties where activity
justifies it.
C. Market participants should establish legally viable bilateral netting agreements with counterparties where activity
justifies it.
D. Market participants should establish legally viable multilateral netting agreements where activity justifies it.
Correct Answer: C
QUESTION 9
Which one of the following statements about “CLS rescinds” is correct?
A. CLS settlement members may rescind instructions unilaterally provided that the rescind messages reach the CLS
Bank before the 00:00 CET deadline.
B. CLS settlement members may rescind instructions unilaterally provided that the rescind messages reach the CLS
Bank before the 06:30 CET deadline.
C. CLS settlement members may rescind instructions bilaterally only if the rescind messages reach the CLS Bank
before the 00:00 CET deadline.
D. CLS settlement members may rescind instructions bilaterally only if the rescind messages reach the CLS Bank after
the 06:30 CET deadline.
Correct Answer: A
QUESTION 10
For which country\\’s currency is ZAR the ISO code?
A. Saudi Arabia
B. South Africa
C. Zimbabwe
D. Zambia
Correct Answer: B
QUESTION 11
Which of the following statements does not explain why banks accept some amount of interest rate risk?
A. In their function as intermediaries, banks must necessarily accept some degree of interest rate risk.
B. Banks incur interest rate risk to increase income
C. Banks prefer c red it risk to market risk.
D. If banks failed to take on interest rate risk they would not be able to meet the needs of their deposit and loan
customers.
Correct Answer: C
QUESTION 12
If manual trade capture methods are used, when should deals be recorded in systems used for this purpose?
A. The same day they are dealt
B. Promptly
C. Within 24 hours of execution
D. Within an hour of execution
Correct Answer: B
QUESTION 13
If spot USD/HKD is 7.7600 and USD/SGD is 1.2350, what is SGD/HKD?
A. 9.5836
B. 6.2834
C. 0.1591
D. 0.1043
Correct Answer: B
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