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Question 1:

What is the amount of the principal plus interest due at maturity on a 1-month (32-day) deposit of USD 50,000,000.00 placed at 0.37%?

A. EUR 50,015,416.67

B. EUR 50,016,219.18

C. EUR 50,016,444.44

D. EUR 50,016,958.33

Correct Answer: C

Question 2:

Which of the following currencies is quoted on an ACT/360 basis in the money market?





Correct Answer: D

Question 3:

What is EONIA?

A. Volume-weighted average overnight EUR deposit rate

B. Volume-weighted average overnight EUR LIBOR

C. Arithmetic average overnight EUR deposit rate

D. ECB overnight lending rate

Correct Answer: A

Question 4:

Which of the following is not a negotiable instrument?





Correct Answer: B

Question 5:

What is the maximum maturity of an unsecured USCP?

A. One year

B. 270 days

C. 183 days

D. 5 years

Correct Answer: B

Question 6:

Which party usually takes an initial margin in a classic repo?

A. The buyer

B. The seller

C. Neither

D. Both

Correct Answer: A

Question 7:

What are the primary reasons for taking an initial margin in a classic repo?

A. Counterparty risk and operational risk

B. Counterparty risk and legal risk

C. Collateral illiquidity and counterparty risk

D. Collateral illiquidity and legal risk

Correct Answer: C

Question 8:

A CD with a face value of EUR 10,000,000.00 and a coupon of 3% was issued at par for 182 days and is now trading at 3.10% with 120 days remaining to maturity. What has been the capital gain or loss since issue?

A. -EUR 52,161.00

B. -t-EUR 47,839.00

C. -EUR 3,827.67

D. Nil

Correct Answer: C

Question 9:

The tom/next GC repo rate for German government bonds is quoted to you at 1.75-80%. As collateral, you sell EUR 10,000,000.00 million nominal of the 5.25% Bund July 2012, which is worth EUR 11,260,000.00. If you have to give an initial margin of 2%, the Repurchase Price is:

A. EUR 11,035,336.41

B. EUR 11,035,351.74

C. EUR 11,039,752.32

D. EUR 11,039,767.65

Correct Answer: D

Question 10:

If EUR/USD is quoted to you as 1.3050-53, does this price represent?

A. The number of EUR per USD

B. The number of USD per EUR

C. Depends on whether the price is being quoted in Europe or the US

D. Depends on whether the price is being quoted interbank or to a customer

Correct Answer: B

Question 11:

The seller of a EUR/RUB NDF could be:

A. a potential buyer of EUR against RUB

B. speculating on an appreciation of the Russian Rouble

C. expecting rising EUR/RUB exchange rates

D. a seller of Russian Rouble

Correct Answer: B

Question 12:

Are the forward points significantly affected by changes in the spot rate?

A. Never

B. For very large movements and longer terms

C. Always

D. Spot is the principal influence

Correct Answer: B

Question 13:

In GBP/CHF, you are quoted the following prices by four different banks. You are a buyer of CHF. Which is the best quote for you?

A. 1.4340

B. 1.4343

C. 1.4337

D. 1.4335

Correct Answer: B

Question 14:

Which of the following CHF/JPY quotes that you have received is the best rate for you to buy CHF?

A. 105.80

B. 105.75

C. 105.70

D. 105.85

Correct Answer: C

Question 15:

Clients of a voice-broker quote EUR/USD at 1.3556-61, 1.3559-62, 1.3557-63 and 1.3555-59.

What will be the broker\’s price?

A. 1.3559 choice

B. 1.3555-63

C. 1.3559-62

D. 1.3556-59

Correct Answer: A

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