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QUESTION: 36 Topic: 1, Volume A

You quote a customer spot AUD/USD at 1.0350-55. The T/N swap is quoted to you at 3/2. The customer asks to buy USD for value tomorrow. What rate should you quote him to break-even against the other rates?

1.0352
1.0353
1.0347
1.0348

Answer(s): A

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QUESTION: 37 Topic: 1, Volume A

Which of the following is true about interest rate swaps (IRS):

Both parties know what their future payments will be at the outset of the swap
There is payment of principal at maturity
Payments are always made gross
The fixed rate payer knows what his future payments will be at the outset of the swap

Answer(s): D

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QUESTION: 38 Topic: 1, Volume A

Which of the following is true?

The 3-month Sterling (SHORT STERLING) futures contract has a basis point value of GBP
25.00 and a face value of GBP 1,000,000 .00
The EUROYEN TIBOR futures contract has a basis point value of JPY 25,000 and a face value of JPY 1,000,000,000
The CME EURODOLLAR futures contract has a minimum price interval of one-quarter basis point value (0.0025) for the nearest contract
The 3-month EURIBOR futures contract has a minimum price interval of half a basis point value
(0.0050) for the nearest contract

Answer(s): C

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QUESTION: 39 Topic: 1, Volume A

EURODOLLAR futures are:

Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD 500,000.00
Traded on the Intercontinental Exchange (ICE) and have a face value of USD 1,000,000.00
Traded on the Intercontinental Exchange (ICE) and have a face value of USD 500,000.00
Traded on the Chicago Mercantile Exchange (CME Group) and have a face value of USD
1,000,000.00

Answer(s): D

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