Topic 4 FX
Authored by Molly Chee
Other
11th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 10 pts
Q1. What does a direct quote represent?
Foreign currency price of home currency
Home currency price of a unit of foreign currency
Price set by interbank traders
Only used in cross rate calculations
2.
MULTIPLE CHOICE QUESTION
20 sec • 10 pts
. In Singapore, which is an example of a direct quote?
A. SGD 1 = USD 0.74
B. USD 1 = SGD 1.35
C. GBP 1 = EUR 1.16
D. SGD 1 = JPY 103.00
SGD 1 = USD 0.74
USD 1 = SGD 1.35
GBP 1 = EUR 1.16
SGD 1 = JPY 103.00
3.
MULTIPLE CHOICE QUESTION
10 sec • 10 pts
Q3. What is a pip in most currency pairs?
A. 0.00001
B. 0.001
C. 0.0001
D. 0.01
0.00001
0.001
0.0001
0.01
4.
MULTIPLE CHOICE QUESTION
20 sec • 10 pts
Q4. What is the bid price in FX trading?
A. Price dealer charges to sell base currency
B. Price dealer is willing to buy base currency
C. Midpoint between ask and spread
D. Reciprocal of the indirect quote
Price dealer charges to sell base currency
Price dealer is willing to buy base currency
Midpoint between ask and spread
Reciprocal of the indirect quote
5.
MULTIPLE CHOICE QUESTION
45 sec • 10 pts
Q5. If EUR/USD = 1.1250 (bid), what is the USD/EUR ask?
A. 0.8890
B. 0.8750
C. 1.1250
D. 0.8889
0.8890
0.8750
1.1250
0.8889
Answer explanation
Working: Reciprocal of 1.1250 → 1 / 1.1250 = 0.8889
6.
MULTIPLE CHOICE QUESTION
20 sec • 10 pts
Q6. The bid-ask spread is:
A. The average of bid and ask
B. The difference between bid and ask prices
C. Always equal to the margin
D. Calculated using cross rate
The average of bid and ask
The difference between bid and ask prices
Always equal to the margin
Calculated using cross rate
7.
MULTIPLE CHOICE QUESTION
20 sec • 10 pts
Q7. A customer sells USD to a dealer at the indirect bid. What is the dealer doing?
A. Selling base currency
B. Buying quote currency
C. Buying base currency
D. Quoting cross rate
Selling base currency
Buying quote currency
Buying base currency
Quoting cross rate
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