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Question 1 of 100
1. Question
1 point(s)Which of the following statements is correct for Netting?
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Question 2 of 100
2. Question
1 point(s)___is a ‘Standard Tenor’ in money market.
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Question 3 of 100
3. Question
1 point(s)The ‘Clearing Account’ is used exclusively for making and receiving payments with Clearing Corporation – State True or False ?
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Question 4 of 100
4. Question
1 point(s)The settlement for exchange traded derivatives is done by _
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Question 5 of 100
5. Question
1 point(s)A person wishes to hedge the long term interest rate as he expects the rate change to happen in the long term. Which of the following options should he choose ?
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Question 6 of 100
6. Question
1 point(s)Depository for government securities is the___
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Question 7 of 100
7. Question
1 point(s)When the interest rate is same for all terms, the shape of term structure is called _
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Question 8 of 100
8. Question
1 point(s)The FAIR VALUE for derivatives in accounting standards is its Book Value – State True or False ?
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Question 9 of 100
9. Question
1 point(s)Which of the following is a correct measure of the realized return for a zero-coupon bond ?
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Question 10 of 100
10. Question
1 point(s)Every debit in Gilt Account would require authorization from Gilt Account Holder, and the right to set off cannot be applied in the Gilt Account – State True or False ?
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Question 11 of 100
11. Question
1 point(s)To convert interest rate into interest amount, which of the following parameters) need to be specified ?
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Question 12 of 100
12. Question
1 point(s)Quantity Freeze is a limit set by the Exchange on the trade size – State True or False ?
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Question 13 of 100
13. Question
1 point(s)Delivery Margin is payable on the Day of Intent – State True or False ?
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Question 14 of 100
14. Question
1 point(s)Which of the following constitute the “capital” market ?
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Question 15 of 100
15. Question
1 point(s)Some months back the 3 month rate was 10.2% and the 3 year rate was 10.8%. Currently the 3 month rate is 10.5% and the 3 year rate is 10.9% . What is the shift of this term structure called ?
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Question 16 of 100
16. Question
1 point(s)A trading member has two clients – Client X and Client Y. Client X has a net long position of 5 and Client Y has a net short position of 8. What is the net position for the trading member ?
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Question 17 of 100
17. Question
1 point(s)One of the reason that ‘Coupon’ is not a true measure of return is that it ignores the premium or discount in bond price – State True or False ?
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Question 18 of 100
18. Question
1 point(s)If the shape of term structure is ‘Flat’, it implies that___
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Question 19 of 100
19. Question
1 point(s)A Good Till Day order will get executed as soon the trigger price is hit in the market – State True or False ?
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Question 20 of 100
20. Question
1 point(s)When there is a failure to notify the Intent to Deliver, the auction is conducted on the second business day after the Day of Intention – State True or False ?
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Question 21 of 100
21. Question
1 point(s)The settlement for the currently traded bond futures is _
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Question 22 of 100
22. Question
1 point(s)Some months back the 3 month rate was 9% and the 2 year rate was 10%. Currently the 3 month rate is 9.2% and the 2 year rate is 10.8% . What is the shift of this term structure called ?
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Question 23 of 100
23. Question
1 point(s)What is the maturity of the underlying for Treasury Bill futures in India ?
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Question 24 of 100
24. Question
1 point(s)What is the implication of ‘Inverted’ shape of term structure ?
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Question 25 of 100
25. Question
1 point(s)Modified Duration and Macaulay Duration both measure the reinvestment risks – State True or False?
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Question 26 of 100
26. Question
1 point(s)The Settlement Risk is overcome by the ___mode of settlement.
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Question 27 of 100
27. Question
1 point(s)Repo transaction means___
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Question 28 of 100
28. Question
1 point(s)Among the following options, which quantity of face value can be bought or sold for Govt. bond futures?
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Question 29 of 100
29. Question
1 point(s)The underlying for ‘Interest rate derivative’ should be__
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Question 30 of 100
30. Question
1 point(s)The Contract Amount (or Market Lot) for Government Bond futures is Rs 100000 of facevalue – State True or False ?
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Question 31 of 100
31. Question
1 point(s)The major economic role of derivatives is risk management – State True or False ?
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Question 32 of 100
32. Question
1 point(s)The regulator for the Exchange-traded interest rate derivatives is___
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Question 33 of 100
33. Question
1 point(s)Every futures seller will prefer to deliver’___Bond as the conversio factor Remains constant during the Delivery Month.
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Question 34 of 100
34. Question
1 point(s)When the interest rate falls with the tenor of a bond, the shape of term structure is called___
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Question 35 of 100
35. Question
1 point(s)The____will frame the operational rules and procedures for interest rate derivatives trading in india.
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Question 36 of 100
36. Question
1 point(s)The Economic Role of derivatives is___
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Question 37 of 100
37. Question
1 point(s)When the term structure curve shifts in clockwise direction, the shift is___
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Question 38 of 100
38. Question
1 point(s)When there is a short-delivery on the settlement day, the shortage is auctioned on the same day and this is called “Auction-in” – State True or False ?
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Question 39 of 100
39. Question
1 point(s)Other things remaining constant, the Modified Duration will _ frequency of bond decreases.
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Question 40 of 100
40. Question
1 point(s)____pays the principal amount periodically till maturity.
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Question 41 of 100
41. Question
1 point(s)____is the account between investors and primary dealers for holding Govt. Securities.
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Question 42 of 100
42. Question
1 point(s)When there is physical settlement of Govt. Bond futures, the seller has to deliver_
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Question 43 of 100
43. Question
1 point(s)Can Government Bond futures of Rs 15 lakhs be bought by an investor ?
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Question 44 of 100
44. Question
1 point(s)The size of settlement risk is equal to the___
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Question 45 of 100
45. Question
1 point(s)Government Bond derivatives are settled by _
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Question 46 of 100
46. Question
1 point(s)When there is a failure to notify the Intent to Deliver, the shortage is auctioned on the same day and this is called “buy-in” – State True or False ?
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Question 47 of 100
47. Question
1 point(s)Market liquidity risk is the inability to quickly buy or sell futures contract without disturbing the futures price – State True or False ?
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Question 48 of 100
48. Question
1 point(s)Assume that the 6 month rate is 5.5%, the 1 year rate is 7% and the 10 year rate is 6.2%, than the shape of term structure would be _
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Question 49 of 100
49. Question
1 point(s)To make the notional bond and a Deliverable Bond equivalent in value, a Conversion Factor is employed, which is same to each Deliverable Bond – State True or False ?
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Question 50 of 100
50. Question
1 point(s)Which of the following is interest rate risk ?
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Question 51 of 100
51. Question
1 point(s)Position limits are defined only at the Trading member level – State True or False ?
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Question 52 of 100
52. Question
1 point(s)The price of a derivative is basically determined by___
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Question 53 of 100
53. Question
1 point(s)Mr A has purchased a par bond for a total sum of Rs 10 lakhs. Later the Yield to Maturity (YTM) falls by one basis point (0.01%). The Modified Duration (MD) is 5.80. Calculate the market value of Mr. A investments after the change in YTM.
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Question 54 of 100
54. Question
1 point(s)If the bond is a zero-coupon bond, there will be no reinvestment risk – State True or False ?
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Question 55 of 100
55. Question
1 point(s)The Govt Bond futures price changes by 300 ticks. Therefore the change in value of one futures contract will be___
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Question 56 of 100
56. Question
1 point(s)The Treasury Bills auction is conducted by the Govt. of India on____
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Question 57 of 100
57. Question
1 point(s)For a 6-Year cash settled Interest Rate Futures contracts, the underlying shall be a coupon bearing Government of India security of face value Rs. 100 and residual maturity between 4 and 8 years on the expiry of futures contract ONLY – State True or False ?
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Question 58 of 100
58. Question
1 point(s)The legal form of Exchange members can be individuals, partnerships, corporate bodies or banks, except for Professional Clearing Member, who can be only corporate bodies or banks – State True or False ?
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Question 59 of 100
59. Question
1 point(s)If the base price of a security for a trading day is Rs 500 and the price range is 2%, the opening price for the trading day will be____
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Question 60 of 100
60. Question
1 point(s)In____bonds, the issuer can prematurely redeem the bonds.
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Question 61 of 100
61. Question
1 point(s)Mr. X has done the foll trades in a day: 6 Long positions and 9 short positions in the same underlying.
What is his net position at the end of day ?CorrectIncorrect -
Question 62 of 100
62. Question
1 point(s)____has the highest Notional Amount Outstanding in world derivative markets.
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Question 63 of 100
63. Question
1 point(s)The change in bond price is income is___after the change in interest rate but the effect of reinvestment income is____.
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Question 64 of 100
64. Question
1 point(s)Calendar spread consists of buying and selling futures on the same underlying, for the same quantity and same expiry months – State True or False ?
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Question 65 of 100
65. Question
1 point(s)The shifting of ‘Clearing Account to another Clearing Bank will require prior approval of Clearing Corporation – State True or False ?
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Question 66 of 100
66. Question
1 point(s)The price of a bond (of Rs 100 face value) is Rs 105. It has a coupon rate of 9%. What is the current yield ?
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Question 67 of 100
67. Question
1 point(s)Current yield’ return calculation is better than ‘coupon’ but is still not a true return because it does not considers the premium/discount in bond price – State True or False ?
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Question 68 of 100
68. Question
1 point(s)Swaps are Exchange traded instruments – State True or False ?
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Question 69 of 100
69. Question
1 point(s)A Trading cum clearing member can settle trades but cannot execute them on the Exchange – State True or False ?
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Question 70 of 100
70. Question
1 point(s)The right sequence of products launched in the Indian Exchange traded derivatives market is : First – Equity Index futures, then – Equity Index options, Single stock options and Single stock futures – State True or False ?
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Question 71 of 100
71. Question
1 point(s)In____the period is less than one year; and in___it is one year or more
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Question 72 of 100
72. Question
1 point(s)The___is predominantly determined by inflation outlook and the capital expenditure by industry and business.
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Question 73 of 100
73. Question
1 point(s)VaR will be slightly higher for short positions than for long positions – State True or False ?
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Question 74 of 100
74. Question
1 point(s)The expiry date for Treasury Bill futures contract is___
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Question 75 of 100
75. Question
1 point(s)Among the following options, which is the most liquid tenor in Bond markets ?
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Question 76 of 100
76. Question
1 point(s)A zero coupon bond issued by a corporate held till maturity will have which of the following risks ?
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Question 77 of 100
77. Question
1 point(s)No separate position limit is prescribed at clearing member level for 10-year bond futures – State True or False ?
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Question 78 of 100
78. Question
1 point(s)The underlying for Bond Derivatives is the Interest rate of that bond – State True or False ?
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Question 79 of 100
79. Question
1 point(s)Yield to Maturity (YTM) can be considered as the TRUE measure of return – State True or False ?
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Question 80 of 100
80. Question
1 point(s)Equity derivative markets have penetrated remarkably in world economies and are considered to be the biggest in size in terms of turnover – State True or False ?
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Question 81 of 100
81. Question
1 point(s)Amongst the following, who can maintain Constituent Subsidiary General Ledger (CSGL) account with the Public Debt Office (PDO) of RBI ?
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Question 82 of 100
82. Question
1 point(s)The Notice of Intent to deliver has to be served by the close of one business day prior to the last business day (expiry day) of Contract Month – State True or False ?
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Question 83 of 100
83. Question
1 point(s)When a Stop Loss sell order is entered, the trigger price has to be____
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Question 84 of 100
84. Question
1 point(s)To protect itself from default of buyer and seller, the Clearing Corporation uses the process of____.
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Question 85 of 100
85. Question
1 point(s)Value-at-risk (VaR) is a measure of maximum likely price change over a given interval / horizon and at a given confidence level / percentile – State True or False ?
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Question 86 of 100
86. Question
1 point(s)Assume that the 6 month rate is 5.5% and the 1 year rate is 7%. From the below given options, what should be the 5 year rate so that the shape of term structure would be Normal.
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Question 87 of 100
87. Question
1 point(s)The last trading day for Treasury Bill future contract is Last Thursday of Contract Month (or the previous trading day if it falls on a holiday) – State True or False ?
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Question 88 of 100
88. Question
1 point(s)For the Open Position on the Last Trading Day, the _ Must Notify the clearing Corporation the notice of intent to deliver.
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Question 89 of 100
89. Question
1 point(s)The price quotation for T-bill is___
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Question 90 of 100
90. Question
1 point(s)A Professional Clearing Member is a member of___
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Question 91 of 100
91. Question
1 point(s)A Professional Clearing Member is a member of the Clearing Corporation only and not of the Exchange – State True or False ?
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Question 92 of 100
92. Question
1 point(s)In terms of facevalue, the contract amount for government bond futures is Rs 25000. State True or False ?
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Question 93 of 100
93. Question
1 point(s)The highest risk a bank or financial institution faces is that of Currency Risk – State True or False ?
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Question 94 of 100
94. Question
1 point(s)In the secondary market, the accrued interest is paid by the buyers to sellers of the coupon bearing bonds – State True or False ?
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Question 95 of 100
95. Question
1 point(s)The Derivatives Exchange and the Clearing Corporation for this derivative exchange are one single entity – State True or False ?
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Question 96 of 100
96. Question
1 point(s)Retail investors can open demat account for government securities with___
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Question 97 of 100
97. Question
1 point(s)If the price of a Govt. bond future is Rs 111.75, what will the market value of one contract ?
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Question 98 of 100
98. Question
1 point(s)When there is a short-delivery on the settlement day, the shortage is auctioned on the next business day – State True or False ?
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Question 99 of 100
99. Question
1 point(s)If the difference between Long term Rates and Short term Rates falls or narrows (from positive to less positive or from negative to more negative); than the term structure of rates (shifts) is called___
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Question 100 of 100
100. Question
1 point(s)Mr. Sharma wishes to invest in Government Bonds and wishes to open a Gilt account. As per rules he can open only one Gilt account. – State True or False ?
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