Free ACI 002-201 Practice Exam Questions and Answers 2026

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Total 340 Questions | Updated On: Apr 02, 2026

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Question 1

Your FX swap dealer sold and bought 2 months USD/CHF 10,000,000.00; rates were set to 0.9300 against 0.9285. What payment is your bank expecting in two months from now?

A : CHF 9,300,000.00

B : CHF 10,770,059.24

C : CHF 9,285,000.00

D : USD 10,000,000.00

Answer: D

Question 2

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

A : Repo rate 1%

B : EONIA 0.25%

C : 0%

D : EONIA 1%

Answer: C

Question 3

Which one of the following bonds uses variable rates?

A : bond warrants

B : reverse convertibles

C : zero coupons

D : FRN Minima's

Answer: D

Question 4

On the sale of a CD, the seller

A : receives a lower price than he originally paid

B : receives a higher price than he originally paid

C : receives a price calculated using the price originally paid

D : there is not enough information to know how much the seller receives

Answer: D

Question 5

You find that you have paid an amount to the wrong counterparty. What action should you take?

A : wait until the counterparty contacts you to before deciding what to do

B : immediately contact the counterparty to find the most appropriate way to have the funds returned as quickly as possible to minimize the loss of value days

C : ask the counterparty to keep the money and to place (invest) it at a special rate

D : ask your accounting department to book the amount as a loss

Answer: B

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Total 340 Questions | Updated On: Apr 02, 2026

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