As far as fineness and weight are concerned, what are the London Bullion Market Association (LBMA) requirements for a "good delivery bar"?
A. at least 995/1000 pure gold; weight between 350 and 430 fine ounces
B. minimum 999.9/1000 pure gold; weight between 350 and 430 fine ounces
C. at least 995/1000 pure gold; weight of 400 fine ounces
D. minimum 995/1000 pure gold; weight of 400 fine ounces
Clients of a voice-broker quote EUR/USD at 1.3556-61, 1.3559-62, 1.3557-63 and 1.3555-59. What will be the broker's price?
A. 1.3559 choice
B. 1.3555-63
C. 1.3559-62
D. 1.3556-59
A "time option" is an outright forward FX transaction where the customer:
A. has the option to fulfill the outright forward or not at maturity
B. may freely choose the maturity, given a 24-hour notice to the bank
C. can choose any maturity within a previously fixed period
D. may decide to deal at the regular maturity or on either the business day before or after
Assuming a flat yield curve in both currencies, when quoting a 1- to 2-month forward FX time option price in a currency pair trading at a discount to a customer:
A. you would take as bid rate the bid side of the 2-month forward and as offered rate the offered side of the 1-month forward
B. you would take as bid rate the offered side of the 2-month forward and as offered rate the bid side of the 1-month forward
C. you would take as bid rate the offered side of the 1-month forward and as offered rate the offered side of the 2-month forward
D. you would take as bid rate the bid side of the 1-month forward and as offered rate the bid side of the 2month forward
Which of the following CHF/JPY quotes that you have received is the best rate for you to buy CHF?
A. 105.80
B. 105.75
C. 105.70
D. 105.85
You have quoted spot USD/CHF at 0.9423-26. Your customer says "I take 5". What does he mean?
A. He buys CHF 5,000,000.00 at 0.9423
B. He buys CHF 5,000,000.00 at 0.9426
C. He buys USD 5,000,000.00 at 0.9423
D. He buys USD 5,000,000.00 at 0.9426
A 12-month EUR/USD swap is quoted at 41/44. EUR interest rates are expected to fall, with USD interest rates remaining stable.
Assuming no change in the spot rate what effect would you expect on the forward points?
A. Unchanged
B. Move towards 28/31
C. Move towards 5 7/60
D. Insufficient information
In GBP/CHF, you are quoted the following prices by four different banks. You are a buyer of CHF. Which is the best quote for you?
A. 1.4340
B. 1.4343
C. 1.4337
D. 1.4335
Voice-brokers in spot FX act as:
A. Proprietary traders
B. Market-makers
C. Matched principals
D. Agents
Are the forward points significantly affected by changes in the spot rate?
A. Never
B. For very large movements and longer terms
C. Always
D. Spot is the principal influence
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