Which statement about modern matched-maturity transfer pricing in banks is correct?
A. Modern matched-maturity systems differentiate transfer prices by the maturity of the commitment and also apply a marginal funding cost perspective.
B. Modern matched-maturity pricing systems include an additional liquidity surcharge that is specifically applied to more liquid short maturities.
C. Matched-maturity transfer prices should represent a weighted average cost of capital that incorporates the cost of equity into the cost of borrowed funds.
D. It is now a widely accepted standard that banks should use a single representative transfer price across the entire maturity spectrum.
正解:A
質問 2:
The seller of a put option has:
A. Limited risk of loss and limited opportunity for gain
B. Substantial risk of loss and limited opportunity for gain
C. Substantial opportunity for gain and limited risk of loss
D. Substantial risk of loss and substantial opportunity for gain
正解:B
質問 3:
You have quoted your customer the following eurodollar deposit rates:
1M 5.375-25%
2M 5.4375-3125%
3M 5.5-375%
The customer says, "I give you USD 20 million in the two's".
What have you done?
A. Lent USD 20 million at 5.3125%
B. Lent USD 20 million at 5.4375%
C. Borrowed USD 20 million at 5.4375%
D. Borrowed USD 20 million at 5.3125%
正解:D
質問 4:
What is the amount of the principal plus interest due at maturity on a 1-month (32-day) deposit of USD 50,000,000.00 placed at 0.37%?
A. EUR 50,015,416.67
B. EUR 50,016,219.18
C. EUR 50,016,958.33
D. EUR 50,016,444.44
正解:D
質問 5:
The vega of an option is:
A. The sensitivity of the option value to changes in the time to expiry
B. The sensitivity of the option value to changes in interest rates
C. The sensitivity of the option value to changes in the price of the underlying
D. The sensitivity of the option value to changes in implied volatility
正解:D
質問 6:
When is a broker allowed to assume a deal is closed:
A. When both back offices acknowledge the deal.
B. When an acknowledgement is received from the principal that the deal is done.
C. When the principals give a written undertaking for all deals done at the end of the day.
D. When one of the principals confirms the deal.
正解:B
質問 7:
What is an FX swap from spot?
A. A spot sale (purchase) and a forward purchase (sale) of two currencies agreed simultaneously between two parties
B. An exchange of currencies on a date beyond spot and at a price fixed today
C. An agreement to buy (sell) an amount of base currency value spot and simultaneously resell (buy back) the same amount to the same counterpart value today
D. An exchange of two streams of interest payments in different currencies and an exchange of the principal amounts of those currencies at maturity
正解:A
質問 8:
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%
正解:B
解説: (Pass4Test メンバーにのみ表示されます)
Koizumi -
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