ACI DEALING CERTIFICATE - 3I0-008 Exam Questions [2026]

QUESTION NO: 1
Click on the Exhibit Button to view the Formula Sheet. A 3-month (91-day) deposit of EUR25 million 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. EUR 25,948,648.82 B. EUR 25,959,714.91 C. EUR 25,962,011.01 D. EUR 25,948,878.47

Correct Answer: C

QUESTION NO: 2
Click on the Exhibit Button to view the Formula Sheet. Where answerphone equipment is used for reporting and recording of off-premises transactions, it should be:

A. On an special number known only to the chief dealer. B. Secured so that reported transactions cannot be erased without senior management approval. C. On a number located in the office of the internal auditor. D. Secured by recordings that are stored for a suitable period.

Correct Answer: B

QUESTION NO: 3
Click on the Exhibit Button to view the Formula Sheet. An option contract that gives the buyer the right to exercise the option at the average of the prices of the underlying during its life is called:

A. Bermudan option B. Asian option C. European-style option D. American-style option

Correct Answer: B

QUESTION NO: 4
Click on the Exhibit Button to view the Formula Sheet. You buy a 181-day 2.75% CD with a face value of USD 1,500,000 at par when it is issued. You sell it in the secondary market after 150 days at 2.60%. What is your holding period yield?

A. 2.75% B. 2.813% C. 2.60% D. 2.775%

Correct Answer: D

QUESTION NO: 5
Click on the Exhibit Button to view the Formula Sheet. A CD with a face value of USD50 million and a coupon of 4.50% was issued at par for 90 days and is now trading at 4.50% with 30 days remaining to maturity. What has been the capital gain or loss since issue?

A. -USD 1,400.99 B. Nil C. +USD 373,599.00 D. +USD 186,099.00

Correct Answer: A

QUESTION NO: 6
Click on the Exhibit Button to view the Formula Sheet. A bond is trading 50 basis points special for 1 week, while the 1-week GC repo rate is 3.25%. If you held GBP 10,500,000 of this bond, what would be the cost of borrowing against it in the repo market?

A. GBP 5,537.67 B. GBP 6,544.52 C. GBP 1,006.85 D. GBP 7,551.37

Correct Answer: A

QUESTION NO: 7
Click on the Exhibit Button to view the Formula Sheet. Are the forward points materially affected by changes in the spot rate?

A. never B. spot is the principal influence C. Only for very large movements and longer terms D. always

Correct Answer: C

QUESTION NO: 8
Click on the Exhibit Button to view the Formula Sheet. An interest rate swap is:

A. All of the above B. A temporary exchange of one deposit for another of a longer maturity in the same currency C. A forward-forward contract D. A contract to exchange one stream of income payments for another

Correct Answer: D

QUESTION NO: 9
Click on the Exhibit Button to view the Formula Sheet. You are quoted spot NZD/USD
0.6821-28 and USD/CHF 1.4652-56, at what price can you buy CHF against NZD?

A. 1.0007 B. 0.9993 C. 1.0006 D. 0.9994

Correct Answer: D

QUESTION NO: 10
Click on the Exhibit Button to view the Formula Sheet. The one-month (31-day) GC repo rate for French government bonds is quoted to you at 3.75-80%. As collateral, you are offered EUR25 million nominal of the 5.5% OAT April 2006, which is worth EUR
28,137,500. If you impose an initial margin of 1%, the Repurchase Price is:

A. EUR 27,948,871.97 B. EUR 27,946,077.08 C. EUR 27,950,071.43 D. EUR 27,947,276.43

Correct Answer: A

QUESTION NO: 11
Click on the Exhibit Button to view the Formula Sheet. When is interest conventionally due on a 3-year interbank eurodollar deposit?

A. Quarterly B. At maturity C. Semi-annually D. Annually

Correct Answer: D

QUESTION NO: 12
Click on the Exhibit Button to view the Formula Sheet. A dealer has indicated his intention of assigning an interest rate swap to a third party soon after transacting that swap. When about to execute an assignment:

A. The dealer is entitled to provide the name of the original counterparty to the assignee. B. The dealer should seek the permission of the original counterparty before releasing the name to the assignee. C. The dealer should seek the permission of the assignee before releasing the name to the original counterparty. D. The dealer is entitled to provide the name of the assignee to the original counterparty.

Correct Answer: C

QUESTION NO: 13
Click on the Exhibit Button to view the Formula Sheet. A 3-month (91-day) deposit of EUR25 million 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. EUR 25,948,648.82 B. EUR 25,959,714.91 C. EUR 25,962,011.01 D. EUR 25,948,878.47

Correct Answer: C

QUESTION NO: 14
Click on the Exhibit Button to view the Formula Sheet.
A customer gives you GBP 25 million at 6.625% same day for 7 days.
Through a broker, you place the funds with a bank for the same period at 6.6875%.
Brokerage is charged at 2 basis points per annum.
What is the net profit or loss on the deal?

A. Loss of GBP 299.66 B. Profit of GBP 203.77 C. Loss of GBP 203.77 D. Profit of GBP 299.66

Correct Answer: B

QUESTION NO: 15
Click on the Exhibit Button to view the Formula Sheet. Where the matter of dealing for personal account is concerned, the Model Code recommends that:

A. Bank management should encourage such activities because it allows banks to monitor the gambling habits of their staff. B. Bank management should allow staff to deal for their personal account on a case to case basis. C. Where this is allowed, bank management should have a clearly defined policy and written procedures. D. Subject to local legal requirements, this matter is one for bank management to decide.

Correct Answer: C