Click on the Exhibit Button to view the Formula Sheet, If GBP/USD is 1.5350-53 and USD/JPY is 106.5053, what is GBP/JPY?
A. 163.48-56
B. 163.51-52
C. 69.36-39
D. 69.36-39
What is an FX swap?
A. An exchange ot two streams of interest payments in different currencies and an exchange of the principal amounts of those currencies at maturity
B. A spot sale (purchase) and a forward purchase (sale) of two currencies agreed simultaneously between two parties
C. An exchange of currencies on a date beyond spot and at a price fixed today
D. None of the above
The Interest Rate Parity Theorem states that:
A. Interest rates in different currencies will tend to move into line with each other over time
B. Interest rates in different currencies differ due to differences in expectations about inflation
C. Selling a low interest rate currency to invest a high interest rate currency will only be profitable if one hedges the currency risk
D. Selling a low interest rate currency to invest in a high interest rate currency should not be profitable if one hedges the currency risk
If 6-month EUR/AUD is quoted at 29/32, which of the following statements is correct?
A. EUR rates are higher than AUD rates in the 6-month
B. AUD rates are higher than EUR rates in the 6-month
C. There is a positive EUR yield curie
D. There is not enough information to decide
How much is a big figure worth per million of base currency it EUR/GBP is 0.6990?
A. GBP 10,000
B. EUR 10,000
C. GBP 6,990
D. EUR 6,990
What is the incentive for market-making?
A. Bid/offer spread
B. Flow information
C. Relationships
D. All of the above
The torward points are calculated from:
A. The level of interest rates in the base currency
B. The level of interest rates in the quoted currency
C. The interest rates in the two currencies
D. Your expectations of the future spot rate
If EUR/USD is quoted to you as 1.1050-53, does this price represent?
A. The number of EUP per USD
B. The number of USD per EUR
C. Depends on whether the price is being quoted in Europe or the US
D. Depends on whether the price is being quoted interbank or to a customer
Which of the following is sometimes called two-name paper?
A. ECP
B. BA or bank bill
C. Treasury bill
D. CD
What usually happens to the collateral in a tri-party repo?
A. It is put at the disposal of the buyer
B. It is held by the seller in the name of the buyer
C. It is held by the tn-party agent in the name of the buyer
D. It is frozen in the sellers account with the tri-panty agent
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