The spot/week repo rate for the 4.25% OAT 2015 is quoted to you at 2.35-38%. You buy bonds with a market value of EUR 3,295,500.00 through a sell/buy-back. The Repurchase Price is:

A.

EUR 3,297,004.19

B.

EUR 3,297,005.86

C.

EUR 3,297,025.09

D.

EUR 3,296,985.23

You are quoted the following market rates:
Spot AUD/CAD 1.0600
12M (360-day) AUD 3.40%
12M (360-day) CAD 1.55%
What are the 12-month AUD/CAD forward points?

A.

+190

B.

-193

C.

-192

D.

-190

A futures clearing house is:

A.

The buyer to each seller and the seller to each buyer

B.

A clearing agent only

C.

The self-regulatory organization for the futures exchange

D.

The owner of the futures exchange

The forward points are calculated using:

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

How would you delta hedge an ‘at-the-money’ long call option?

A.

Go short of the underlying commodity equal to 50% of the size of the option contract

B.

Go long of the underlying commodity equal to 50% of the size of the option contract

C.

Go long of the underlying commodity equal to the full size of the option contract

D.

Go short of the underlying commodity equal to the full size of the option contract

Which is the day count/annual basis convention for SGD money market deposits?

A.

ACT/365

B.

ACT/360

C.

ACT/ACT

D.

30E/360

Which of the following currency risks could only be hedged by a non deliverable forward (NDF)?

A.

an exposure in Latvian Lats (LVL)

B.

an exposure in Russian Rouble (RUB)

C.

an exposure in Romanian Leu (RON)

D.

an exposure in Bulgarian Lev (BGN)

3-month EUR/USD FX swaps are quoted to you at 8/12. If the “points are in your favor”,
what have you done?

A.

Bought and sold 3-m

B.

Sold and bought 3-month EUR/USD through the swap

C.

Made the quote

D.

Cannot say

Whose compliance rules, regulations and best practices should be followed in FX
electronic trading?

A.

solely those of the electronic trading platforms vendors

B.

exclusively ACI’s Model Code Best Practices

C.

ACI’s Model Code Best Practices and ICMA’s Market Practice & Regulatory Policy

D.

the electronic trading platforms vendors’ and the ACIs Model Code Best Practices guidelines

Clients of a voice-broker quote EUR/GBP at 0.8345-50, 0.8346-51, 0.8348-53 and 0.8349- 53. What will be the broker’s price?

A.

0.8345-53

B.

0.8345-50

C.

0.8349-50

D.

0.8349-53