6． American wants to buy six cases of champagne. Each case costs 390 SEK. If the SEK/USD exchange rate is 6.90, what is the USD cost of the champagne? A) USD2,340.00. B) USD56.52. C) USD241.50. D) USD339.13. The correct answer was D) Total SEK cost = 390 × 6 = 2,340 SEK. Invert the quote = 1 / 6.9 = 0.1449 USD/SEK.
Total dollar cost = 0.1449 USD/SEK × 2,340 SEK = USD339.13 7．hich of the following statements best describes a six month forward foreign currency spread? The six month forward foreign currency spread: A) tends to be smaller than the spot spread. B) tends to be larger than the spot spread. C) is the same as the spot spread. D) is equal to: (spot spread × (1 + 1/6)). The correct answer was B) The forward foreign currency spreads tend to be larger than the spot spreads. 8．sume that the USD/GBP six-month forward rate is quoted at a bid of 1.72546 and an ask of 1.72776. What is the spread on the indirect quote for a U.S. dealer? A) 0.000772 USD/GBP. B) 0.002300 USD/GBP. C) 0.002300 GBP/USD. D) 0.000772 GBP/USD. The correct answer was D) For an indirect quote, the bid and ask prices must be converted to GBP/USD. This is accomplished by taking the reciprocal of each and then subtracting the bid from the ask price.
1/1.72546 USD/GBP = 0.579556 GBP/USD
1/1.72776 USD/GBP = 0.578784 GBP/USD
The spread is 0.578784 – 0.579556 = 0.000772 GBP/USD 9．e three-month forward rate for the Byzantine solidus (BYZ) against the Venetian ducat (VEN) is quoted as 11.98 – 12.03 VEN/BYZ. The bid-ask spread on the direct quote to a Byzantine investor is closest to: A) 0.05 VEN/BYZ B) 0.0003 BYZ/VEN C) 0.05 BYZ/VEN D) 0.0003 VEN/BYZ The correct answer was B) The direct quote for a Byzantine investor is BYZ/VEN. The bid and ask quotes are 1/11.98 = 0.0834 BYZ/VEN and 1/12.03 = 0.0831 BYZ/VEN. The spread is 0.0834 - 0.0831 = 0.0003 BYZ/VEN. | 
发表于 2008-5-12 14:36
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