6．day, the spot rate on Japanese yen is $0.008000 and 180-day forward yen are priced at $0.008250. The annualized forward premium is: A) 6.250%. B) 6.060%. C) 3.125%. D) 3.030%. The correct answer was A)
Forward premium = ($0.008250 - $0.008000)/$0.008000 x (360/180) = 0.0625 = 6.25 percent. 7． the forward rate expressed in domestic currency units is above the spot rate, then the foreign currency is at a: A) forward discount. B) forward premium. C) spot premium. D) spot discount. The correct answer was B) A foreign currency is at a forward premium if the forward rate expressed in domestic currency is above the spot rate. Forward premium = forward rate – spot rate. 8．e forward rate on a 90-day contract is 5 DC/$ and the spot is 4 DC/$. The $ is trading at a forward: A) premium of 0.8. B) premium of 1.0. C) discount of 0.8. D) discount of 1.0. The correct answer was B) A foreign currency is at a forward premium if the forward rate expressed in dollars is above the spot rate. Forward premium = forward rate – spot rate = 5 - 4 = 1. 9．e current spot rate quote is 2 USD/GBP. A 180 day forward discount for the GBP of 2% (annualized) would reflect a forward price of: A) 1.96 USD/GBP. B) 2.02 GBP/USD. C) 1.98 USD/GBP. D) 2.04 GBP/USD. The correct answer was C) The GBP is at a forward discount if the forward rate expressed in USD/GBP is below the spot rate. Since the annualized discount is 2%, the 180 day forward discount is 1% of spot, or USD 0.02. [(1.98 - 2.00)/2.00](360/180) = -2% 10．oreign currency is at a forward premium if the forward rate: A) expressed in domestic currency is above the spot rate. B) expressed in domestic currency is below the spot rate. C) expressed in foreign currency/domestic currency is above the spot rate. D) expressed in foreign currency/domestic currency is at the spot rate. The correct answer was A) A foreign currency is at a forward premium if the forward rate expressed in domestic currency is above the spot rate. A forward discount exists if the forward rate is below the spot rate.
[此贴子已经被作者于2008-5-12 12:34:04编辑过] | 
发表于 2008-5-12 12:32
|