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ACI 3I0-012 Exam -

Free 3I0-012 Sample Questions:

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
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?
B. Repo
C. Interbank deposit
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

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