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Questions # 136:

When is interest conventionally due on a 3-year interbank eurodollar deposit?

Options:
A.

At maturity

B.

Annually

C.

Semi-annually

D.

Quarterly

Expert Solution
Questions # 137:

Cable is quoted at 1.6075-80 and you say “5 yours!” to the broker. What have you done?

Options:
A.

Sold USD 5 million at 1.6075

B.

Sold GBP 5 million at 1.6075

C.

Bought GBP 5 million at 1.60B0

D.

Bought USD 5 million at 1.6080

Expert Solution
Questions # 138:

An option premium is a positive function of:

Options:
A.

Time to expiry

B.

The volatility of the price of the underlying commodity

C.

The moneyness of the option

D.

All of the above

Expert Solution
Questions # 139:

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?

Options:
A.

2.1890

B.

2.2125

C.

2.1895

D.

2.1885

Expert Solution
Questions # 140:

The delta of an option is:

Options:
A.

The sensitivily of the option value to changes in interest rates

B.

The sensitivity of the option value to changes in volatility

C.

The sensitivity of the option value to changes in the time to expiry

D.

The sensitivity of the option value to changes in the price of the underlying

Expert Solution
Questions # 141:

In a dispute between the dealer and a broker, the Model Code recommends that this should be referred in the first instance to:

Options:
A.

Central bank.

B.

Senior management of the bank and the brokerage firm.

C.

Head of compliance.

D.

ACI’s Committee for Professionalism (CFP).

Expert Solution
Questions # 142:

You have quoted a Swiss customer spot USD/CHF as 1.3710-15, but he asks you to quote it as CHF/USD. What do you quote?

Options:
A.

0.7291-94

B.

0.7294-91

C.

1.3710-15

D.

None of these

Expert Solution
Questions # 143:

Which of the following would not constitute an event of market isruption under the Model Code?

Options:
A.

The imposition of capital controls.

B.

A major terrorist attack on a financial centre.

C.

The failure of SWIFT.

D.

Concerted cestal bank intervention.

Expert Solution
Questions # 144:

The extension of forward FX contracts at their historic rates is only allowed when:

Options:
A.

Prior management approval has been sought.

B.

They are executed within six months.

C.

They are extended for not more than one year.

D.

All of the above.

Expert Solution
Questions # 145:

The two-week repo rate br the 5.25% bund 2007 is quoted to you at 3.33-38%. You agree to reverse in bonds worth EUR 266,125,000 with no initial margin. You would earn repo interest ot

Options:
A.

EUR 349,806

B.

EUR 344,632

C.

EUR 319,315

D.

EUR 324,110

Expert Solution
Questions # 146:

What is the purpose of a long strangle option strategy?

Options:
A.

To anticipate very low volatility in the price of the underlying commodity

B.

To anticipate moderately high volatility in the price of the underlying commodity

C.

To anticipate moderate volatility in the price of the underlying commodity

D.

To anticipate very high volatility in the price of the underlying commodity

Expert Solution
Questions # 147:

You bought USD 5,000,000 against EUR at 1.1037 and 3,000,000 at 1.1052. If the EUR/USD rate is now quoted 1.1015/17, and it you deal at that rate, what profitwould you make?

Options:
A.

Nil

B.

A profit of EUR 16,847.58

C.

A loss

D.

A profit of EUR 18,166.05

Expert Solution
Questions # 148:

If EUR/USD is 1.1025-28 and the 6-month swap is 112.50/113, what is the 6-month outright price?

Options:
A.

1.1380-1.11405

B.

1.11375-1.1141

C.

1.09125-1.0915

D.

None of these

Expert Solution
Questions # 149:

A 7-day piece of USCP is quoted at a rate of discount of 1.75%. What is its true yield?

Options:
A.

1.73%

B.

1.75%

C.

1.77%

D.

1.80%

Expert Solution
Questions # 150:

What is a long straddle option strategy?

Options:
A.

A long call option + long put option with the same strike prices

B.

A short call option + short put option with the same strike prices

C.

A long call option + short put option with the same strike prices

D.

A short call option + long put option with the same strike prices

Expert Solution
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