3I0-012 ACI Dealing Certificate Free Practice Exam Questions (2025 Updated)

screen services, brokers and other third party providers can all be useful sources of data

For periods less than one month, the maturity date will be the first date that is a business day that is within one, seven, fourteen days from the value date, but when near the month end must never be a date in the next calendar month

Inter-dealer brokers or the automated trading system need not be notified when participants attempt to utilize odd settlement dates

It is not recommended that legal opinion should be obtained on the enforceability of the contract

interest rate, currency, equity and commodity risk

interest rate, currency, equity and default risk

interest rate, equity, liquidity and default risk

legal, reputation and regulatory risk

7,291,286.91

7,293,946.02

13,710,000.00

13,715,000.00

A cash instrument

An exchange traded derivative

An interest rate derivative

A balance sheet instrument

8th September next year

10th September next year

8thDecembernextyear

December next year

EURIBOR

EONIA

LIBOR

SONIA

IDR

RUP

INR

IND

frequency trading

high-incidence trading

flash trading

liquidity aggregators

verbal agreements are considered binding

written confirmations always override terms verbally agreed to

deals agreed to verbally can be done subject to documentation

verbal agreements are never to be considered legally binding

2.60%

2.75%

2.775%

2.813%

to increase funding diversification , to reduce funding costs, to achieve regulatory and accounting benefits, to increase the size of the balance sheet

to increase funding diversification , to reduce funding costs, to achieve regulatory and accounting benefits

to increase funding diversification , to reduce operational risk, to achieve regulatory and accounting benefits, to decrease the size of the balance sheet

to increase funding diversification , to reduce operational risk, to achieve regulatory and accounting benefits, to increase the size of the balance sheet

has established the price sensitivities of a longer-term fixed-rate liability and a floating-rate asset

has established the price sensitivities of a longer-term fixed-rate asset and a floating-rate liability

receives fixed in the swap

pays floating in the swap

Sold USD 5,000,000.00 at 1.5575

Sold GBP 5,000,000.00 at 1.5575

Bought GBP 5,000,000.00 at 1.5580

Bought USD 5,000,000.00 at 1.5580

+USD 373,599.00

+USD 186,099.00

-USD 1,400.99

Nil

a 1x2 FRA short position

a 1- against 2-month buy and sell forward/forward FX swap

a 1- against 2-month sell and buy forward/forward FX swap

a 1- against 2-month forward/forward long position

South Korea

Sri Lanka

Slovakia

Sweden

The LCR is a measure to ensure that the reserve of high quality liquid assets is sufficient to cover short term demand for liquidity in a stress situation.

the ratio (cash outflow in a 30-day stress period divided by high quality liquid assets) has to be greater than 100%.

Covered bonds are class 1 assets.

Obligations issued by central banks or government agencies are class 2 assets.

Amendments to customer standing data should be subject to 4 eyes control and only changed if the appropriately authorized documentation is provided.

The set up of settlement instructions and the confirmation method should be fixed when setting the first transaction.

No trading should be done without first identifying and setting up the counterparty.

Counterparty identification and setup of settlement instructions should be completed in less than 2 working days.

the Canadian “Maple Leaf”

the South African “Krugerand”

the American “Gold Eagle”

the United Kingdom “Sovereign”

matching should be performed by no later than the day after trading day

matching processes are manual and may not be automated

matching should be performed as soon as possible upon receipt of the confirmation

confirmation matching should be a post-settlement workflow activity

Legal documentation must be put in place as soon as possible after transaction.

All market participants should use the Modified Previous Business Day Convention.

The exact maturity (end) dates for transactions must be agreed as soon as possible after a transaction.

All market participants should use the Modified Following Business Day Convention.

JPY 152,090

JPY 152,139

JPY 152,169

JPY 152,217

USD 252,056,972.97

USD 252,028,916.32

USD 250,000,000.00

USD 248,911,014.31

no transaction is done

the broker has to honor each and every amount hit

the broker has to split the amount among the banks on a pro rata basis

the broker may freely choose the bank(s) he will deal with

Reviewed Supervisory Factor

Required Stable Funding

Riskless Stable Funding

Riskless Supervised Funding

EUR

JPY

HKD

AUD

if you do so when you make the price

provided the amounts are marketable

once you have discovered the name of the counterparty for credit reasons

at anytime

No deal is done and the broker should inform both counterparties accordingly.

The deal is done and the broker should inform both counterparties accordingly.

The matter should be resolved in consultation with senior management of the 3 institutions.

The ACI’s Committee for Professionalism will investigate and advise accordingly.

No, it doesn’t, since the slope of the yield cure is unrelated to the spread between short-term and long-term interest rates.

No, it doesn’t. There isn’t any link at all between the slope of the interest yield curve and a bank’s net interest margin.

Yes it does. In banking, long-term rates usually apply to bank deposits and money market borrowings whereas short-term interest rates are attached to loans and securities.

Yes it does. Long-term rates usually apply to a bank’s assets (loans, securities, etc.) and the short term interest rates are generally attached to liabilities (deposits, money market borrowings, etc.).