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Questions # 51:

What needs to be done in the event that a trade is amended by one or both parties?

Options:
A.

A new confirmation should be generated by both parties but there is no need to restart the confirmation cycle.

B.

The amending party should verbally inform the other party.

C.

A new confirmation should be generated and the confirmation cycle should restart and continue until the trade is completely matched by both parties.

D.

A new confirmation need not be generated but the confirmation cycle must restart and continue until the trade is completely matched by both parties.

Expert Solution
Questions # 52:

Which of the following types of payment demands extra diligence and review procedures?

Options:
A.

Nostro funding payment

B.

Third party payment

C.

Value spot USD payment

D.

Value spot payment for currency equivalents> USD 3,000,000.00

Expert Solution
Questions # 53:

Which of the following are primary markets?

Options:
A.

Auction markets conducted by the U.S. Treasury for U.S. Treasury bills

B.

The repo market

C.

The foreign exchange market

D.

The over-the-counter market for U.S. Government Bonds

Expert Solution
Questions # 54:

You have been given collateral. In which case would you be least concerned about insisting on a “haircut”?

Options:
A.

Non-cash emerging markets collateral

B.

Cash collateral in JPY, your base currency is GBP

C.

Cash collateral in USD, your base currency is USD

D.

Non-cash high yield collateral

Expert Solution
Questions # 55:

An interest rate CAP can be defined as:

Options:
A.

A series of American call options on FRAs

B.

A series of European call options on FRAs

C.

A series of American put options on FRAs

D.

A series of European put options on FRAs

Expert Solution
Questions # 56:

Most non deliverable forwards (NDFs) are cash-settled in:

Options:
A.

GBP

B.

USD

C.

CHF

D.

EUR

Expert Solution
Questions # 57:

For which of the following transactions are proper and completed bilateral master agreements considered essential prior to any dealing?

Options:
A.

Spot FX

B.

Repo

C.

Forward FX

D.

FRAs

Expert Solution
Questions # 58:

How frequently should business contingency procedures be tested and updated?

Options:
A.

Quarterly tests / updates as needed

B.

At least every second year

C.

Half-yearly tests / yearly updates

D.

At least yearly

Expert Solution
Questions # 59:

A dealer, seeking to refinance a money market short position in USD, could choose to:

Options:
A.

Sell EUR/USD or GBP/USD spot

B.

Deal Reverse Repos (Reverse Sale and Repurchase Agreements)

C.

Place USD in torn next

D.

Deal Repos (Sale and Repurchase Agreements)

Expert Solution
Questions # 60:

«Illiquid» describes an instrument which:

Options:
A.

Does not trade in an active market

B.

Does not trade on any exchange

C.

Cannot be easily hedged

D.

Is an over-the-counter (OTC) product

Expert Solution
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