Free 002-101 Exam Questions - Easiest Way for Success

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Total 420 Questions | Updated On: Sep 14, 2024

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Question 1

Forward points represent:

A : The expected appreciation or depreciation of the quoted currency

B : The expected appreciation or depreciation of the base currency

C : Solely, the interest rate differential between two currencies

D : Largely, the interest rate differential between two currencies

Answer: D

Question 2

Click on the Exhibit Button to view the Formula Sheet, If GBP/USD is 1.5350-53 and USD/JPY is 106.50-53, what is GBP/JPY?

A : 69.36-39

B : 163.48-56

C : 163.51-52

Answer: B

Question 3

When a broker calls off" at the very instant a dealer "hits" the broker's price:"

A : The transaction should not be concluded.

B : The broker decides whether or not the deal is done.

C : ACI's Committee for Professionalism will decide whether the transaction should be concluded.

D : The transaction should be concluded.

Answer: A

Question 4

Which one of the formulae below is correct?

A : Long a FRN + pay floating on a swap = long a synthetic straight bond.

B : Long a FRN + pay fixed on a swap = long a synthetic straight bond

C : Long a FRN + pay floating on a swap = short a synthetic straight bond

D : Long a FRN + receive floating on a swap = long a synthetic straight bond

Answer: A

Question 5

You are paying 5% per annum paid semi-annually and receiving 6-month LIBOR on a USD 10 million interest rate swap with exactly two years to maturity. 6-month LIBOR for the next payment date is fixed today at 4.95%. How would you hedge the swap using FRAs? How to hedge an IRS with a strip of FRAs?

A : sell a strip of 0x6, 6x12, 12x18 and 18x24 FRAs

B : buy a strip of 6x12, 12x10 and 16x24 FRAs

C : buy a strip of 0x6, 6x12, 12x18 and 18x24 FRAs

D : sell a strip of 6x12, 12x18 and 18x24 FRAs

Answer: D

Page: 1 / 84

Total 420 Questions | Updated On: Sep 14, 2024

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