ACI 3I0-010 Exam
3I0-010 ACI-Operations Certificate (Page 8 )

Updated On: 1-Feb-2026

If a dealer buys 1 million EUR/USD at 1.1122, 2 million EUR/USD at 1.1132, 3 million EUR/USD at 1.1175 and sells 1 million EUR/USD at 1.1185, what position is he left with?

  1. Long 5 million EUR/USD at 1.1156
  2. Long 5 million EUR/USD at 1.1145
  3. Short 5 million EUR/USD at 1.1156
  4. Short 5 million EUR/USD at 1.1145

Answer(s): B



Which of the following statements apply to an FX swap?

  1. It consists of two separate transactions, dealt with two different counterparties.
  2. It replaces a pair of foreign exchange transactions.
  3. It fully eliminates counterparty risk.
  4. It reduces credit risk with the counterparty, as compared to money market deals.

Answer(s): D



Forward points represent:

  1. the value of a currency against its base
  2. largely the interest rate differential between two currencies
  3. the time/value ratio of one currency versus another
  4. the future value of a currency

Answer(s): B



FX Swaps can be used to:

  1. swap a fixed leg into a variable leg
  2. buy or sell the currency of your choice
  3. arbitrage between foreign exchange and interest rates
  4. arbitrage between deposits and forward points

Answer(s): D



The discount or premium on forward foreign exchange points is calculated based on:

  1. the level of interest rates in the base currency
  2. the level of interest rates in the counter currency
  3. the differential between the interest rates in the two currencies
  4. the current volatility in the FX markets

Answer(s): C



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