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ACI 3I0-012 Exam Questions
3I0-012 ACI Dealing Certificate (Page 12 )

Updated On: 17-Feb-2026
Page 12 of 149
PDF with 740 Questions

An ‘at-the-money’ option has:

  1. Intrinsic value but no time value
  2. Time value but no intrinsic value
  3. Both time value and intrinsic value
  4. Neither time value nor intrinsic value

Answer(s): B



The vega of an option is:

  1. The sensitivity of the option value to changes in interest rates
  2. The sensitivity of the option value to changes in implied volatility
  3. The sensitivity of the option value to changes in the time to expiry
  4. The sensitivity of the option value to changes in the price of the underlying

Answer(s): B



An option is:

  1. The right to buy or sell a commodity at a fixed price
  2. The right to buy a commodity at a fixed price
  3. The right but not the obligation to buy or sell a commodity at a fixed price
  4. The right but not the obligation to buy a commodity at a fixed price

Answer(s): C



A put option is ‘out-of-the-money’ if:

  1. Its strike price is higher than the current market price of the underlying commodity
  2. If the current market price of the underlying commodity is higher than the strike price of the option
  3. Its strike price is equal to the current market price of the underlying commodity
  4. If the current market price of the underlying commodity is lower than the strike price of the option

Answer(s): B



Which of the following transactions would have the effect of lengthening the average duration of assets in the banking book?

  1. buying futures contracts on 30-year German Government bonds
  2. selling futures contracts on 30-year German Government bonds
  3. buying put options on 30-year German Government bonds
  4. buying a 3x6 forward rate agreement

Answer(s): A






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