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ACI 3I0-012 Exam Syllabus Topics:

SectionObjectives
Interest Rates and Fixed Income Basics- Bond pricing fundamentals
  • 1. Yield and price relationship
    • 2. Duration basics
      Foreign Exchange (FX) Markets- Spot and forward FX
      • 1. Spot FX mechanics
        • 2. Forward points and pricing
          - FX swaps and derivatives basics
          • 1. Hedging currency exposure
            • 2. FX swaps structure
              Money Market Instruments- Short-term instruments
              • 1. Commercial paper
                • 2. Treasury bills
                  - Repo and interbank markets
                  • 1. Repurchase agreements
                    • 2. Interbank lending rates (LIBOR replacement benchmarks)
                      Financial Markets Fundamentals- Market conventions and instruments
                      • 1. Day count conventions and pricing basics
                        • 2. Interest rate fundamentals
                          - Structure of financial markets and participants
                          • 1. Money markets vs capital markets
                            • 2. Role of dealers and brokers
                              Risk Management and Ethics- Code of conduct
                              • 1. Market abuse prevention
                                • 2. ACI code of conduct principles
                                  - Market risk and operational risk
                                  • 1. Settlement and counterparty risk
                                    • 2. Value at risk (VaR) basics

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