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002-101 ACI Dealing Certificate New Version Exam

  • ACI
  • 5 free sample questions

About this exam

002-101 is the ACI exam ACI Dealing Certificate New Version Exam. Paid practice material for this exam is not available yet, but you can try its free sample questions.

Exam code
002-101
Vendor
ACI
Practice questions
Not available yet
Free sample questions
5
Question bank last updated
Not available yet

Try 2 sample questions

Taken from the free sample set for 002-101.

Question 1

Under Basel III rules the meaning of RSF is: 

  1. Option A:
    Riskless Stable Funding
  2. Option B:
    Required Stable Funding
  3. Option C:
    Riskless Supervised Funding
  4. Option D:
    Reviewed Supervisory Factor 
Show answer and explanation

Correct answer: B

Under Basel III, the Net Stable Funding Ratio (NSFR) is a liquidity standard designed to ensure that banks maintain stable funding over a one-year period.
The NSFR is calculated as:
NSFR = Available Stable Funding (ASF) ÷ Required Stable Funding (RSF)
Where:
ASF (Available Stable Funding): The amount of stable funding available from capital and liabilities.
RSF (Required Stable Funding): The amount of stable funding a bank needs based on the liquidity characteristics and maturity of its assets and off-balance-sheet exposures.
The requirement is:
NSFR ≥ 100%
This means a bank's Available Stable Funding should be at least equal to its Required Stable Funding.
Option Analysis
A. Riskless Stable Funding ❌
"Riskless" is not a Basel III term.
B. Required Stable Funding ✅ Correct
Official Basel III terminology.
C. Riskless Supervised Funding ❌
Not a Basel III concept.
D. Reviewed Supervisory Factor ❌
Not related to the NSFR framework.
Exam Tip
Remember the pair:
ASF = Available Stable Funding
RSF = Required Stable Funding
✅ Correct Answer: B. Required Stable Funding.

Question 2

Are the forward points materially affected by changes in the spot rate

  1. Option A:
    Never
  2. Option B:
    Only for very large movements and longer terms
  3. Option C:
    spot is the principal influence
  4. Option D:
    always
Show answer and explanation

Correct answer: B

Forward points are primarily determined by:

  • The interest rate differential between the two currencies.

  • The time to maturity of the forward contract.

Although the spot exchange rate is part of the forward rate calculation, changes in the spot rate generally do not materially affect the forward points, except when:

  • The movement in the spot rate is very large, and

  • The contract has a longer maturity.

Option Analysis

A. Never ❌

  • Incorrect. Spot rate changes can have some effect in certain circumstances.

B. Only for very large movements and longer terms ✅ Correct

  • This is the accepted market practice and exam answer.

  • Under normal conditions, forward points are driven mainly by interest rate differentials, not spot rate fluctuations.

C. Spot is the principal influence ❌

  • Incorrect. The principal influence on forward points is the interest rate differential, not the spot rate.

D. Always ❌

  • Incorrect. Spot rate changes do not always materially affect forward points.

Exam Tip

Remember:

  • Forward Rate = Spot Rate ± Forward Points

  • Forward Points ≈ Interest Rate Differential × Time

  • Spot rate movements usually have little effect on forward points unless they are very large and over longer maturities.

✅ Correct Answer: B. Only for very large movements and longer terms.

See all 5 free sample questions