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ACI-Financial 3I0-012 Book

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Total 740 questions
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ACI Dealing Certificate Questions and Answers

Question 17

Today, you sold 10 December EURODOLLAR futures contracts at 99.50. The closing price is fixed by the exchange at 99.375. What variation margin will be due?

Options:

A.

You will have to pay USD 312.50

B.

You will receive USD 312.50

C.

You will have to pay USD 3,125.00

D.

You will receive USD 3,125.00

Question 18

If 6-month USD/CAD forward rates are quoted at 40/45, which of the following statements is correct?

Options:

A.

USD rates are higher than CAD rates in the 6-month

B.

CAD rates are higher than USD rates in the 6-month

C.

There is a positive USD yield curve

D.

There is not enough information to decide

Question 19

Prudential regulation of banking book liquidity risk is dealt with by the Basel Committee (Basel II / Basel III) in the context of:

Options:

A.

capital adequacy regulations in Pillar 1

B.

market risk and Tier 3 capital elements

C.

internal management procedures subject to supervisory review in Pillar 2

D.

market discipline, disclosure and transparency in Pillar 3

Question 20

What happens if an instruction remains unmatched and/or unsettled through CLS Bank?

Options:

A.

If there is more than one FX trade with a single counterparty to settle in the identical currencies, then both sides should bilaterally agree to settle the trades outside of CLS Bank on a net basis.

B.

If there is only one FX trade with a single counterparty to settle in the identical currencies, then either side can unilaterally decide to settle the trade outside of CLS Bank on a net basis.

C.

If there is more than one FX trade with a single counterparty to settle in the identical currencies, then both sides should bilaterally agree to settle the trade outside CLS Bank on a gross basis.

D.

If there is more than one FX trade with a single counterparty to settle in the identical currencies, then either side can unilaterally instruct the CLS Bank to settle the trades.

Page: 5 / 28
Total 740 questions
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