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Free 3I0-012 Exam Braindumps (page: 72)

Page 71 of 186
PDF with 740 Questions

In a plain vanilla interest rate swap, the “fixed-rate payer”:

  1. has established the price sensitivities of a longer-term fixed-rate liability and a floating-rate asset
  2. has established the price sensitivities of a longer-term fixed-rate asset and a floating-rate liability
  3. receives fixed in the swap
  4. pays floating in the swap

Answer(s): A



All prices quoted by brokers should be taken to be:

  1. under reference
  2. firm, but not necessarily in marketable amounts
  3. firm, unless otherwise qualified
  4. merely indicative

Answer(s): C



What should a broker do if his quoted price is hit simultaneously by several dealers for a total amount greater than that for which the price concerned was valid?

  1. allot the amount for which the price is valid pro rata amongst some principals in accordance with the amount proposed by each and inform the other dealers that “nothing was done”
  2. decide which principals he will allot the amount for which the price is valid and inform the other dealers that “nothing was done”
  3. evenly allocate the amount for which the price is valid amongst all the principals and inform all the relevant dealers
  4. apportion the amount for which the price is valid pro rata amongst all the principals concerned in accordance with the amount proposed by each and inform all the relevant dealers

Answer(s): D



Under the Model Code, if a broker shouts “done” or “mine” at the very moment a dealer shouts “off”:

  1. No deal is done and the broker should inform both counterparties accordingly.
  2. The deal is done and the broker should inform both counterparties accordingly.
  3. The matter should be resolved in consultation with senior management of the 3 institutions.
  4. The ACI’s Committee for Professionalism will investigate and advise accordingly.

Answer(s): B






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