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Question 1

How is a call money market transaction generally confirmed?

Options :

A : by telephone between the traders

B : by a SWIFT message MT 320

C : by a SWIFT message MT 330

D : by a SWIFT message MT 300

Answer: C

Question 2

Which of the following is the best description of a broken trade”?

Options :

A : When a trade has been agreed to with dates (maturities) different from the standard dates

B : When one of the parties to the deal unilaterally decides to withdraw from the on-going transaction

C : When, due to a system break, one or both parties to the deal chooses to withdraw from the ongoing transaction

D : When, due to a system break, one or both parties to the deal are unclear as to whether the deal has been done

Answer: D

Question 3

What is the rate of interest paid by the European Central Bank on cash amounts exceeding the minimum reserve requirement (excess reserves)?

Options :

A : Repo rate 1%

B : EONIA 0.25%

C : 0%

D : EONIA 1%

Answer: C

Question 4

Which SWIFT message formats would you use for a foreign exchange confirmation and fixed money market confirmation, respectively?

Options :

A : MT 400, MT 950

B : MT 200, MT 100

C : MT 300, MT 950

D : MT 300, MT 320

Answer: D

Question 5

A Certificate of Deposit (CD) was issued at 2.50% which you now purchase at 1.75%. What would you expect to pay?

Options :

A : The original face value of the CD

B : More than the originally paid value

C : Less than the originally paid value

D : There is too little information to decide

Answer: B