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3I0-013 Exam Dumps : ACI Operations Certificate challenging

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ACI Operations Certificate challenging Questions and Answers

Question 1

A USD 1,0000,000.00 US Treasury Bill (91 days) is offered at a discount rate of 0.75%. The offer price will be:

Options:

A.

USD 1,000,000.00

B.

USD 998,104.17

C.

USD 992,500.00

D.

USD 998,130.14

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Question 2

Some large losses occurred in the past from derivatives trading because:

Options:

A.

Derivatives brokers significantly over-charged their clients

B.

Institutions did not understand the leverage of their transactions

C.

Money managers engaged in intra-day trading

D.

Money managers embezzled money using derivatives

Question 3

In error, your dealer enters a trade whereby he buys GBP 8,000,000.00 against USD at 1.5500, but manages to cover it at the same rate. When the initial mistaken trade is cancelled, however, the rate has since changed to 1.5200. What is the effect on P&L?

Options:

A.

Profit GBP 240,000.00

B.

Loss GBP 240,000.00

C.

Profit USD 240,000.00

D.

Loss USD 240,000.00