3I0-012 Exam Dumps - ACI Dealing Certificate

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Question # 4

A â€œtime optionâ€ is an outright forward FX transaction where the customer:

has the option to fulfill the outright forward or not at maturity

may freely choose the maturity, given a 24-hour notice to the bank

can choose any maturity within a previously fixed period

may decide to deal at the regular maturity or on either the business day before or after

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Question # 5

You have made a price by a Japanese bank in (SD 2,000,000.00 against JPY. They made you

98.95-03 and you took the offer. USD/JPY is now quoted 98.78-81 and you square your position.

What is your profit or loss?

Profit of JPY 340.000

Profit of JPY 1.500,000

Loss of JPY 340.000

LossofJPV 500.000

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Question # 6

You are quoted the following market rates:

Spot EUR/USD 1.3097-00

0/N EUR/USD swap 0.08/0.11

TIN EUR/USD swap 0.29/0.34

S/N EUR/USD swap 0.10/0.13

Where can you buy EUR against USD for value tomorrow?

1.299971

1.309966

1.309971

1.310029

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Question # 7

Extended trading hours and off-premises dealing can involve additional hazards, the avoidance of which requires clear controls. The Model Code prescribes best market practice. Which of thefollowing is true?

Off-premises dealing should be strictly prohibited.

After-hours trading should be prohibited.

Deals transacted after normal business hours or off-premises should only be undertaken on mobile phones approved by management.

Deals transacted after normal business hours or off-premises either by mobile phones or any other equipment should only be undertaken with the approval of management.

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Question # 8

A transaction that entails market price risks may be entered into in the absence of a market price risk limit...

...only at the discretion of the head of treasury.

...only at the discretion of the head of trading.

...as long a counterparty and issuer limit is in place.

... is not permitted.

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