Which of the following are examples of "contracts for difference"?
A. forward rate agreement (FRA) and non deliverable forward (NDF)
B. FX Swap and interest swap
C. spot FX deal and non deliverable forward (NDF)
D. FX Swap and Eurocurrency deposit
How much would you receive in AUD for a spot sale of USD 7,000,000.00 at 0.6650?
A. None, you would pay AUD and receive USD
B. 10,526,315.79
C. 4,655,000.00
D. 5,500,000.00
In error, your dealer enters a trade whereby he buys GBP 8,000,000.00 against USD at 1.6500, but manages to cover it at the same rate. When the mistaken trade is cancelled, however, the rate has since changed to 1.6200. What is the effect on PandL?
A. Profit USD 240,000.00
B. Loss USD 240,000.00
C. Loss GBP 240,000.00
D. Profit GBP 240,000.00
On Monday a dealer in a bank in Switzerland buys USD 5,000,000.00 against JPY spot. Value date of this spot transaction will be Wednesday,
A. assuming neither Tuesday nor Wednesday are bank holidays in Switzerland
B. assuming that neither Tuesday nor Wednesday are bank holidays in Japan
C. assuming neither Tuesday nor Wednesday are bank holidays in the United States
D. assuming neither Tuesday nor Wednesday are bank holidays in either Japan or the United States
Two days ago, your dealer sold USD 500,000.00 against JPY. JPY 54,945,000 were credited to your JPY nostro account. The deal was made at what rate?
A. at 109.89
B. at 0.0091
C. at 10.9890
D. at 1.0989
What are the ISO codes for the Canadian Dollar, the Singapore Dollar, the South African Rand and the Swiss Franc (though not necessarily in that order)?
A. SAR, CAD, SFR, SGD
B. CAD, CHF, SGD, SAR
C. SFR, SGD, ZAR, CAD
D. SGD, ZAR, CAD, CHF
In what order would the currencies of the major currency pairs generally be quoted in forex?
A. EUR/USD, USD/JPY, USD/GBP, USD/CHF, USD/CAD, USD/AUD
B. EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD
C. EUR/USD, USD/JPY, GBP/USD, USD/CHF, CAD/USD, AUD/USD
D. EUR/USD, USD/JPY, GBP/USD, USD/CHF, CAD/USD, USD/AUD
The use of netting in foreign exchange dealings has increased because it reduces:
A. the volume of confirmations that have to be sent to the counterparties
B. foreign exchange dealing limits and the currency risk exposure of the banks
C. the potential foreign exchange trading losses incurred by banks
D. interbank payments, counterparty credit risk exposure, as well as the amount of capital allocated to
foreign exchange activity
What are the factors determining if a FX transaction can be settled through the CLS Bank?
A. currency pair, price
B. currency pair, counterparty, time
C. currency pair, price, counterparty
D. counterparty, price
If a spot next EUR/USD FX swap is traded on Monday, 18 August, and there are no holidays in the relevant currencies during the week of August 18 - 22 what would be the value dates of the two swap legs?
A. 20 - 27 August
B. 20 August - 20 September
C. 20 - 21 August
D. 19 - 20 August
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