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When would you use a SWIFT message type 103?

A.

For a foreign exchange confirmation

B.

For a multiple general financial institution transfer

C.

For a general financial institution transfer

D.

For a customer transfer

Which details do not need to be mentioned in a trade confirmation?

A.

Economic: such as initial and final amounts, rates

B.

Product identification: counterparty, currency, index

C.

Identification of the dealer: identity, title, direct phone number

D.

Dates including the trade day: initial day, final day, settlement day

A USD 1,0000,000.00 US Treasury Bill (91 days) is offered at a discount rate of 0.75%. The offer price will be:

A.

USD 1,000,000.00

B.

USD 998,104.17

C.

USD 992,500.00

D.

USD 998,130.14

What payment system has to be used for all payments involving the Eurosystem?

A.

SWIFT

B.

CHAPS

C.

Euro Link System (ELS)

D.

TARGET2

An input message for the SWIFT network is composed of up to which five parts?

A.

1. Basic header block, 2. Communication header block, 3. Currency block, 4. Text block, 5. Trailers block

B.

1. Basic header block, 2. Application header block, 3. User header block (optional), 4. Text block, 5. Trailers block

C.

1. Sending header block, 2. Application header block, 3. User header block, 4. Text block (optional), 5. Transmission block

D.

1. Basic header block, 2. System header blocks (optional), 3. User header block, 4. Text block, 5. Security block

What is a junk bond?

A.

An AAA-rated security in payment default

B.

A sub-investment grade instrument

C.

An OECD Government bond

D.

A bond typically paying lower yields than an investment grade instrument

What is the function of the cash positions keeper?

A.

He/she acts as a running control on the balance of a nostro, alerting the treasury dealer when funds are running too low or too high for a particular value day measured by agreed upon internal parameters

B.

He/she assists the dealer in deciding which currency to invest in

C.

He/she informs back office staff about which kind of confirmations are to be used

D.

He/she acts as a running control on the balance of an internal account, alerting the treasury dealer when fees are running too low or high for a particular value day

According to ISDA definitions, if an USD IRS payment is due value Saturday, 31 May and the documentation states that the “modified following business day convention” will be used, what value date should be applied to the payment?

A.

Saturday, 31 May

B.

Tuesday, 3 June

C.

Monday, 2 June

D.

Friday, 30 May

What financial product involves exchanging a fixed interest rate for a floating interest rate?

A.

A FX Swap

B.

A repurchase agreement

C.

An interest rate swap (IRS)

D.

A dual swaption

Major amendments to a prospectus can be made:

A.

At the discretion of the issuer and after the launch

B.

Only with the consent of the note holders

C.

Always in the case of default payment

D.

Only by the custodian with the consent of the issuer