3I0-012 Exam Dumps - ACI Dealing Certificate

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Question # 25

A euro zone-based bank that is asset-sensitive to market interest rate changes might reduce interest rate risk by:

entering into a pay fixed I receive variable standard interest rate swap

entering into a receive fixed I pay variable standard interest rate swap

entering into a pay fixed / receive variable amortizing interest rate swap

entering into a GBP/USD FX swap

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Question # 26

Name switching is:

the practice of a dealer attempting to replace one customer by a new one in a previously dealt transaction

the practice of a broker having to show a new name to the dealer, although he was full on the first name presented to him

the practice of a broker attempting to substitute a third name between the two original counterparties to clear the transaction

the practice of a broker attempting to show a substitution name to get out of a situation in which he was stuffed by a dealer

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Question # 27

In which type of repo is â€œdouble dippingâ€ a risk?

Delivery repo

HIC repo

To-party repo

â€œDouble dippingâ€ is never a risk in any type of repo

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Question # 28

An interest rate swap (IRS) is:

A contract to exchange one stream of interest payments for another

A temporary exchange of one deposit for another of a longer maturity in the same currency

A forward-forward contract

A contract to exchange an interest rate stream in one currency for another one in a different currency

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Question # 29

You are paying 5% per annum paid semi-annually and receiving 6-month LIBOR on a USD 10,000,000.00 interest rate swap with exactly two years to maturity. 6-month LIBOR for the next payment date is fixed today at 4.95%. You expect 6-month LIBOR in 6 months to fix at 5.25%, in 12 months at 5.35% and in 18 months at 5.40%. What do you expect the net settlement amounts to be over the next 2 years? Assume 30-day months.

Pay 250.00, receive 1,250.00, receive 1,750.00, receive 2,000.00

Receive 250.00, pay 1,250.00, pay 1,750.00, pay 2,000.00

Pay 2,500.00, receive 12,500.00, receive 17,500.00, receive 20,000.00

Receive 2,500.00, pay 12,500.00, pay 17,500.00, pay 20,000.00

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Question # 30

For which countryâ€™s currency is ZAR the ISO code?

Saudi Arabia

South Africa

Zimbabwe

Zambia

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Question # 31

What does the Model Code recommend regarding â€œentertainment and giftsâ€?

Management should monitor the form, frequency and cost of entertainment and gifts dealers receive, have a clearly articulated policy towards the giving/receipt of gifts and ensure the policy is enforced.

As gifts and entertainment may be offered in the normal course of business, employees can offer inducements to conduct business and solicit them from the personnel of other institutions.

Although management should not monitor the form, frequency or cost of entertainment/gifts dealers receive, they may have a policy towards the giving/receipt of gifts and ensure the policy is enforced.

Gifts or entertainment should never be offered in the normal course of business, and employees must never offer any inducements to conduct business, nor solicit them from other institutions.

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Question # 32

Under Basel Rules, the Basic Indicator Approach is a regulatory framework for:

liquidity risk

business risk

operational risk

funding risk

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