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Free ACI 3I0-013 Practice Exam with Questions & Answers | Set: 10

Questions 91

Your dealer bought a 6x9 USD 4,000,000.00 FRA at 0.75%. Settlement is now due and 3 months (90 days) USD LIBOR is 0.40%. What amount do you pay or receive?

Options:
A.

Receive USD 3,496.50

B.

Pay USD 3,496.50

C.

Pay USD 3,500.00

D.

Pay USD 3,448.65

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Questions 92

The owner of a convertible bond:

Options:
A.

Has the obligation to convert his bond

B.

Has the right to convert his bond

C.

Must wait for the decision of the issuer if he wants to convert his bond

D.

Has the obligation to convert the coupon into a variable or a fixed rate

Questions 93

What are the major objectives of the Model Code?

Options:
A.

To promote the Basel agreements and their objective to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide

B.

To promote international cooperation to prevent the use of the financial system for the purpose of money laundering

C.

To promote domestic financial regulations

D.

To promote a high level of ethical and professional conduct in order to create an efficient market

Questions 94

What is the disadvantage having separate cash accounts?

Options:
A.

You need more back office staff to book the fees

B.

One account could be overdrawn while the other has excess funds. The surplus balance would earn less interest than the amount being charged on the corresponding overdraft if an error occurs in settlement. Thus there is a risk of overdraft interest versus idle balances

C.

One securities account could be overdrawn while the other has excess securities. The surplus balance would earn less interest, if any, than that being charged on the corresponding overdraft if an error occurs in settlement

D.

The workload of the auditors, compliance officers, risk managers and dealers will be higher

Questions 95

Under what circumstances should you ask for "use of funds"?

Options:
A.

If you have credit balances on several nostro accounts and have to use these balances to cover your outstanding payment orders

B.

If your nostro A shows a debit whereas your nostro B shows a credit balance, you allow correspondent B to use your credit balance to work with, in order to receive credit interests to partially or totally cover the overdraft interests on nostro A.

C.

If at the end of a month, you want to collect the credit balances and to ask for credit interest

D.

If the net balance on a nostro account is higher than the amount agreed upon with your counterparty

Questions 96

If a spot next EUR/USD FX Swap is traded on Monday, 18 August, and there are no holidays in the relevant currencies during the week of August 18 - 22 what would be the value dates of the two swap legs?

Options:
A.

18 -19 August

B.

20 August - 20 September

C.

20 - 21 August

D.

19 - 20 August

Questions 97

You have received the requisite notification from a non-swapping counterparty that their USD correspondent is to be changed from Bank A to Bank B taking effect from value date 15 June. On 14 June, you buy JPY 50,000,000 from your counterparty against USD for value spot. What payment will you execute?

Options:
A.

USD payment to Bank A

B.

USD payment to Bank B

C.

JPY payment to Bank A

D.

JPY payment to Bank B

Questions 98

Open position and exchange risk management by currency belongs to which treasury system module?

Options:
A.

The derivatives dealing and processing module

B.

Standard back office features

C.

The FX spot and forward dealing input and processing module

D.

The securities trading and processing module

Questions 99

Forward points represent:

Options:
A.

The value of a currency against its base

B.

Largely the interest rate differential between two currencies

C.

The time/value ratio of one currency versus another

D.

The future value of a currency

Questions 100

If a trade is to settle in a CCP or CLS:

Options:
A.

The parties may agree verbally not to exchange confirmations

B.

A party can unilaterally eliminate confirmations for these trades

C.

It is left to the discretion of each party to send a confirmation or not

D.

The parties may agree in writing not to exchange confirmations

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