002-101 試験問題と解答 - 模擬練習 - 練習問題・模擬試験

Question No : 1
A money market deposit is best described as:

A.An unsecured placement or borrowing of funds for a fixed period
B.A contract giving the right to buy a currency
C.A physical exchange of securities only
D.A futures contract traded on a commodity exchange

正解:

Question No : 2
A tom-next FX swap normally covers the period from:

A.Today to tomorrow
B.Tomorrow to the next business day
C.Spot date to one month
D.One year to two years

正解:

Question No : 3
The standard value date for most major currency spot transactions is generally:

A.Same day
B.Next business day
C.Two business days after trade date
D.One calendar month after trade date

正解:

Question No : 4
Which of the following best describes an FX dealer’s “position”?

A.The outstanding net exposure in a currency
B.The dealer’s job title
C.The official fixing source only
D.The broker’s commission

正解:

Question No : 5
An FX outright forward rate is:

A.The spot rate adjusted by forward points
B.The central bank rate plus tax
C.The option strike minus premium
D.The repo rate minus haircut

正解:

Question No : 6
Which of the following is most closely associated with settlement risk in FX?

A.One party pays away currency but does not receive the counter-currency
B.The option premium changes before expiry
C.The trade is entered into the wrong spreadsheet
D.The yield curve becomes flat

正解:

Question No : 7
If the base currency interest rate is higher than the terms currency interest rate, the base currency will generally trade forward at:

A.A premium
B.A discount
C.Par only
D.Zero value

正解:

Question No : 8
Which of the following is a common reason for using an FX forward?

A.To remove settlement risk completely
B.To hedge a known future foreign currency exposure
C.To avoid confirming the trade
D.To eliminate credit risk

正解:

Question No : 9
If GBP/USD is quoted at 1.2500-04, a customer selling GBP will deal at:

A.1.2504
B.1.2500
C.1.2540
D.1.2400

正解:

Question No : 10
A cross rate is:

A.An exchange rate between two currencies calculated through a third currency
B.A rate fixed by an exchange only
C.A penalty rate charged on failed settlement
D.A repo rate against equity collateral

正解:

Question No : 11
Which of the following is usually the most liquid foreign exchange transaction type?

A.Exotic option
B.Spot FX
C.Long-dated structured note
D.Physical commodity swap

正解:

Question No : 12
The bid-offer spread in an FX quotation mainly represents:

A.The dealer’s transaction margin and market liquidity conditions
B.The central bank official rate
C.The annual interest rate only
D.The tax rate on the currency

正解:

Question No : 13
If a trader buys EUR/USD, the trader is:

A.Buying EUR and selling USD
B.Selling EUR and buying USD
C.Buying both EUR and USD
D.Selling both EUR and USD

正解:

Question No : 14
In a USD/JPY quote, which currency is the base currency?

A.JPY
B.USD
C.Both currencies
D.Neither currency

正解:

Question No : 15
Which of the following best describes a non-deliverable forward?

A.A forward contract settled by physical delivery of both currencies
B.A forward contract settled by a cash difference in a convertible currency
C.A futures contract traded only on an exchange
D.A money market deposit with no maturity date

正解:

ACI 002-101 問題練習