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

Prepare effectively for your ACI 3I0-012 ACI Dealing Certificate certification with our extensive collection of free, high-quality practice questions. Each question is designed to mirror the actual exam format and objectives, complete with comprehensive answers and detailed explanations. Our materials are regularly updated for 2025, ensuring you have the most current resources to build confidence and succeed on your first attempt.

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Total 740 questions

How many USD would you have to invest at 3.5% to be repaid USD125 million (principal plus interest) in 30 days?

A.

USD 124,641,442.43

B.

USD 124,636,476.94

C.

USD 124,635,416.67

D.

USD 123,915,737.30

Which of the following statements reflects the Model Code on gambling or betting amongst market participants?

A.

Gambling and betting between market participants should be strongly discouraged.

B.

Gambling and betting between market participants can be allowed if it is monitored by management.

C.

Gambling and betting between market participants should be forbidden.

D.

All of the above.

Where answer phone equipment is used for reporting and recording of off-premises transactions, it should be:

A.

On an special number known only to the chief dealer.

B.

On a number located in the office of the internal auditor.

C.

Secured so that reported transactions cannot be erased without senior management approval.

D.

Secured by recordings that are stored for a suitable period.

You quote a price to a broker on EUR 100 million. Your price is hit for EUR 50 million. What does the Model Code say about this situation?

A.

You have a right to qualify your quotes in terms of amounts, if you do so when you make the price.

B.

You have a right to qualify your quotes in terms of amounts, provided the amounts are marketable.

C.

You have a right to qualify your quotes in terms of amounts, once you have discovered the name of the counterparty for credit reasons.

D.

You have a right to qualify your quotes in terms of amounts.

An option granted by the seller that gives the buyer the right to enter into an underlying interest rate swap transaction is ca lied:

A.

a swap

B.

a cap

C.

a swaption

D.

a collar

The torward points are calculated from:

A.

The level of interest rates in the base currency

B.

The level of interest rates in the quoted currency

C.

The interest rates in the two currencies

D.

Your expectations of the future spot rate

A forward-forward loan creates an exposure to the risk of:

A.

Higher interest rates

B.

Lower interest rates

C.

Steepening yield curve

D.

Parallel shift downwards in the yield curve

A dealer does the following deals in EUR/USD:

buys EUR 1 m at 11020

sells EUR 3 m at 1.1022

buys EUR 2 m at 1.1002

buys EUR 1.5 m at 1.1012

What position does the dealer now have?

A.

Long EUR 1.5 m at 1.0984

B.

Short EUP 1.5 m at 1.1036

C.

Long EUR 1.5 m at 1.1012

D.

Short EUR 3.0 mat 1.1025

You request use of funds from your agent bank for 1 day on an amount of EUR 100,000,000.00, EONIA was 0.812% and the ECB deposit facility rate is 0.50%. What use of funds settlement amount should you expect?

A.

EUR 1,388,89

B.

EUR 1,561.11

C.

EUR 2,255.56

D.

EUR 2,951.39

A 7% CD was issued at par, which you now purchase at 6.75%. You would expect to pay:

A.

The face value of the CD

B.

More than the face value

C.

Less than the face value

D.

Too little information to decide

Hybex Electrics is a highly rated company with a considerable amount of fixed rate liabilities and would like to increase the percentage of floating rate debt. Which of the following is the best course of action?

A.

Hybex should become a payer of a fixed rate on a swap against receipt of LIBOR.

B.

Hybex should become a receiver of a floating rate on a swap against payment of a fixed rate

C.

Hybex should become a receiver of a fixed rate on a swap against payment of LIBOR D.

D.

Hybex should become a receiver of a floating rate on a swap against payment of LIBOR

The market is quoting:

6-month (182-day) CAD 1.25%

12-month (366-day) CAD 1.55%

What is the 6x12 rate in CAD?

A.

0.300%

B.

0.946%

C.

1.935%

D.

1.835%

What is the maximum maturity of an unsecured USCP?

A.

One year

B.

270 days

C.

183 days

D.

5 years

Which of the following scenarios offer an example of wrong way risk?

A.

A bank purchases credit protection on highly-rated tranches of US mortgage-backed securities from a US mortgage bank

B.

A bank sells protection on the iTraxx main index at a level of 25 bps and shortly afterwards the index crosses the 200 bps level

C.

A bank sells EUR put I USD call ATM options with an expiry date of 6 months and afterwards volatility moves up to substantially higher levels

D.

A bank enters into a receiver’s swap while interest rates are increasing

Voice-brokers in spot FX act as:

A.

Proprietary traders

B.

Market-makers

C.

Matched principals

D.

Agents

Which one of the following statements about interest rate movements is true?

A.

An upward parallel shift of interest rates will cause a loss of income if the rate-sensitivity of a bank’s liabilities is higher than the rate-sensitivity of its assets.

B.

A bank will lose income if it has more rate-sensitive liabilities than rate-sensitive assets.

C.

Falling interest rates will always result in mark-to-market profits on short positions in fixed rate securities.

D.

Rising interest rates can result in mark-to-market losses on fixed-rate assets.

How many GBP would you have to invest at 0.55% to be repaid GBP 2,000,000.00 (principal plus interest) in 90 days?

A.

GBP 1,997,253.78

B.

GBP 1,997,291.34

C.

GBP 1,997,287.67

D.

GBP 1,997,250.00

Which of the following CHF/JPY quotes that you have received is the best rate for you to buy CHF?

A.

105.80

B.

105.75

C.

105.70

D.

105.85

Which of the following is true?

A.

The 3-month EURODOLLAR futures contract has a basis point value of USD 50.00 and a face value of USD 1,000,000.00

B.

The 3-month EURIBOR futures contract has a a basis point value of EUR 12.50 and a face value of EUR 500,000.00

C.

The 3-month Sterling (SHORT STERLING) futures contract has a a basis point value of GBP 12.50 and a face value of GBP 500,000.00

D.

The 3-month Euro Swiss Franc (EUROSWISS) futures contract has a a basis point value of CHF 50.00 and a face value of CHF 2,000,000.00

The seller of a put option has:

A.

Substantial opportunity for gain and limited risk of loss

B.

Substantial risk of loss and substantial opportunity for gain

C.

Limited risk of loss and limited opportunity for gain

D.

Substantial risk of loss and limited opportunity for gain

Under Basel rules, what is the meaning of EEPE?

A.

Effective Expected Potential Exposure

B.

Effective Expected Positive Exposure

C.

Effective Expected Price Earning

D.

Effective Expected Payment Exposure

Today’s spot value date is Friday 27th February. What is normally the 1-month maturity date? Assume no bank holidays.

A.

28th March

B.

29th March

C.

30th March

D.

31st March

EURODOLLAR futures are:

A.

Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 500,000.00

B.

Traded on the Intercontinental Exchange (ICE) and have a face value of USD 1,000,000.00

C.

Traded on the Intercontinental Exchange (ICE) and have a face value of USD 500,000.00

D.

Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 1,000,000.00

What is the Overnight Index for EUR?

A.

EURIBOR

B.

EONIA

C.

EUREPO

D.

EURONIA

Which of the following is a Eurocurrency deposit?

A.

A 3-month deposit of USD 10,000,000.00 offered by a US bank in New York

B.

A 3-month deposit of USD 10,000,000.00 offered by the US branch of a UK bank in New York

C.

A 3-month deposit of USD 10,000,000.00 offered by a US bank in London

D.

A 3-month deposit of GBP 10,000,000.00 offered by the UK branch of a US bank in London

Which of the following does the Model Code mention with regards to recording telephone conversations?

A.

There is no need to inform new counterparties and clients that conversations will be recorded.

B.

It is normal practice that tapes and other records should be kept for at least twelve months.

C.

The periods for which tapes and other records should be retained should reflect the way in which the terms and conditions of transactions have been agreed, and the duration of transactions.

D.

Dealers and other staff are reminded that telephones and electronic text messaging systems in the firm are intended for business and private use and that conversations and exchanges of text messages should be conducted in a casual manner.

A CD with a face value of EUR 10,000,000.00 and a coupon of 3% was issued at par for 182 days and is now trading at 3.10% with 120 days remaining to maturity. What has been the capital gain or loss since issue?

A.

-EUR 52,161.00

B.

-t-EUR 47,839.00

C.

-EUR 3,827.67

D.

Nil

What is EONIA?

A.

Volume-weighted average overnight EUR deposit rate

B.

Volume-weighted average overnight EUR LIBOR

C.

Arithmetic average overnight EUR deposit rate

D.

ECB overnight lending rate

Which of the following is typical of liquid assets held by banks under prudential requirements?

A.

prices increase during a systemic crisis

B.

return on investment is relatively high

C.

absence of active market makers

D.

wide bid/offer spreads

If the value date of a forward USD/JPY transaction is declared a holiday in either New York or Tokyo, the correct value date will be:

A.

the value date of the financial centre that is open

B.

the next business day of the financial centre which is closed

C.

the next business day when both New York and Tokyo are open

D.

the previous business day when both New York and Tokyo are open

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Total 740 questions
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