Vendor
: ACI
Exam Code : 3I0-012
Version: Free Demo
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Q: 1 A 3-month (91-day) deposit of AUD 25,000,000.00 is made at 3.25%. At maturity, it is rolled over three times at 3.55% for 90 days, 4.15% for 91 days and 4.19% for 89 days. At the end of 12 months, how much is repaid (principal plus interest)? A. AUD 25,962,011.00 B. AUD 25,959,714.91 C. AUD 25,948,878.47 D. AUD 25,948,648.82 Answer: A Q: 2 Which of the following rates represents the highest investment yield in the Euromarket? A. Semi-annual bond yield of 3.75% B. Annual bond yield of 3.75% C. Semi-annual money market yield of 3.75% D. Annual money market rate of 3.75% Answer: C Q: 3 A 3-month (91-day) US Treasury bill is quoted at a rate of discount of 4.25%. What is its true yield? A. 4.19% B. 4.25% C. 4.30% D. 4.31% Answer: C Q: 4 Today’s spot value date is Friday 27th February. What is normally the 1-month maturity date? Assume no bank holidays. A. 28th March B. 29th March C. 30th March D. 31st March Answer: D Q: 5 The Market Segmentation hypothesis suggests that the yield curve bends at some point along its length because: A. Investors have less appetite for longer-term investments B. Borrowers prefer to borrow long-term but lenders prefer to lend short-term C. Different types of institution tend to specialize in different maturity ranges D. The risk premium becomes significant only at longer maturities Answer: C Q: 6 Which of the following is always a secured instrument? A. ECP B. Repo
C. Interbank deposit D. CD Answer: B Q: 7 What type of institution is the typical drawer of banker’s acceptances? A. Credit institution B. Investment bank C. Corporate D. Central Bank Answer: A Q: 8 Which type of repo is the most risky for the buyer? A. Delivery repo B. HIC repo C. TO-party repo D. There is no real difference Answer: C Q: 9 You have taken 3-month deposits of EUR 10,000,000.00 at 0.60%, EUR 5,000,000.00 at 0.40% and EUR 5,000,000.00 at 0.50%. What is the average rate of your long position? A. 0.525% B. 0.45% C. 0.75% D. 0.375% Answer: A Q: 10 A 30-day 4% CD with a face value of GBP 20,000,000.00 is trading in the secondary market with 20 days remaining to maturity at 4.05%. What would be your holding period yield if you bought the CD now and held it to maturity? A. 4.05% B. 4.0% C. 3.891% D. 3.838% Answer: B