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ACI 3I0-013 Exam
ACI Operations Certificate (Page 15 )

Updated On: 9-Feb-2026
Page 15 of 79
PDF with 386 Questions

You bought a 6x9 EUR 8,000,000.00 FRA at 0.75%. Settlement is now due and 3 months (90 days) EURIBOR is 0.25%. What amount do you pay or receive?

  1. Pay EUR 10,000.00
  2. Receive EUR 10,000.00
  3. Pay EUR9,993.75
  4. Receive EUR 9,993.75

Answer(s): C



What deals are usually associated with a collar?

  1. A purchase of a cap and a sale of a cap at higher reference rate
  2. A purchase of a floor and a sale of a cap or vice versa
  3. A purchase of a cap and a purchase of a floor
  4. A purchase of a step-up cap and a sale of a step-down floor

Answer(s): B



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

  1. The fixed rate and the floating rate payers know the cash value of their payments at the outset
  2. There is exchange of principal at the start and at the end of the swap
  3. Payment netting is only allowed through a third party
  4. The notional amount of the swap is generally not exchanged between counterparties

Answer(s): D



When is the settlement amount of a FRA normally payable?

  1. At the beginning of the forward period
  2. On the trade date
  3. On the maturity (final) date
  4. At any time before the contract’s maturity date

Answer(s): A



What financial product involves exchanging a fixed interest rate for a floating interest rate?

  1. AFXSwap
  2. A repurchase agreement
  3. An interest rate swap (IRS)
  4. A dual swaption

Answer(s): C






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