3I0-012 Exam Dumps - ACI Dealing Certificate

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Question # 57

The Committee for Professionalism strongly recommends intra-day oral deal checks to help reduce the number and size of differences, particularly when dealing through voice-brokers, for deals involving foreign counterparties, in faster moving markets such as FX and when dealing in other instruments which have very short settlement periods.

This checking should:

Be carried out at least three times a day.

Be agreed between the parties.

Be done at the end of each day.

Be decided by the broker.

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Question # 58

Which of the following is true?

It is the responsibility of the broking firm to conduct due diligence before transacting a deal.

All principals have the responsibility for assessing the creditworthiness of their counterparties or potential counterparties whether dealing direct or through a broking firm.

The principal is obliged to take into account any information provided by a broker as they are bound by a professional relationship.

All of the above.

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Question # 59

You quote the following rates to a customer spot GBP/CHF 2.2005-10

3M GBP/CHF swap 120/115

At what rate do you sell GBP to a customer 3-month outright?

2.1890

2.2125

2.1895

2.1885

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Question # 60

A customer asks for a price in 3-month CHF/JPY. You quote 56/54. The customer deals at 54. What have you done?

Bought CHF against JPY spot and sold JPY against CHF 3-month forward

Sold CHF against JPY spot and bought CHF against JPY 3-month forward

Bought CHF against JPY spot and sold CHF against JPY 3-month forward

Bought JPY against CHF 3-month outright

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Question # 61

The torward points are calculated from:

The level of interest rates in the base currency

The level of interest rates in the quoted currency

The interest rates in the two currencies

Your expectations of the future spot rate

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Question # 62

When an employee executes a personal trade in advance of a clientâ€™s or institutionâ€™s order to benefit from the anticipated movement in the market price following the execution of a large trade, it is called:

front running

ex ante trading

insider dealing

forward-facing

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Question # 63

Confirmations should be sent out by both counterparties through an efficient and secure means of communication, preferably electronic:

Within 24 hours of the deal.

Within two business days of the deal.

Before the value date.

As soon as possible.

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