The "value date" is best described as:
A. The date a trade is undertaken
B. The date the fixing rate is agreed upon
C. The date the settlement occurs
D. The date confirmations are exchanged between counterparties
What is volatility?
A. the difference between the current price of an asset and its previous close
B. a statistical measure of price fluctuations as an annualized percentage
C. the measure of the liquidity of a contract or security
D. the difference between the annual high and low of a security
What does ISDA stand for?
A. International Swaps and Derivatives Association
B. Integrated System Data Association
C. International Swap Derivatives Agreement
D. Informative Software for Dealing Activities
What is a "tick" in the futures markets?
A. the maximum daily price change permissible on the futures exchange
B. a temporary suspension of trading at a futures exchange
C. the initial margin requirements at a futures exchange
D. the minimum price movement defined by the futures exchange
What does LIBOR stand for?
A. London Interbank Overseas Rate
B. London Interbank Offered Rate
C. Lending Interbank Offered Rate
D. Leading Interbank Basis Offered Rate
If today is Thursday, 12 December, what is the spot date for a EUR/USD transaction?
A. 14 December
B. 15 December
C. 16 December
D. 17 December
You take a EUR deposit on Monday, 13 February. Assuming there is no intervening bank holidays, what is the one-month maturity date?
A. Monday, 13 March
B. Tuesday, 14 March
C. Wednesday, 15 March
D. Thursday, 16 March
In the Euro deposit markets, what is spot?
A. value one bank business day forward
B. value two bank business days forward
C. value one calendar day forward
D. value two calendar days forward
If today is Wednesday, what are the value days of a spot next money market deal assuming there are no intervening bank holidays?
A. Wednesday against Thursday
B. Thursday against Friday
C. Friday against Monday
D. Monday against Tuesday
The difference between the bid and the offer rate of a money market quotation is called:
A. the margin
B. the spread
C. the variation
D. the premium
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