CFA Level I:Economics - Aggregate output, price, and economic growth 学习要点和习题精选
Learning Outcome Statements (LOS)
a Define an exchange rate, and distinguish between nominal and real exchange rates and spot and forward exchange rates;
b Describe functions of and participants in the foreign exchange market;
c Calculate and interpret the percentage change in a currency relative to another currency;
d Calculate and interpret currency cross-rates;
e Convert forward quotations expressed on a points basis or in percentage terms into an outright forward quotation;
f Explain the arbitrage relationship between spot rates, forward rates and interest rates;
g Calculate and interpret a forward discount or premium;
h Calculate and interpret the forward rate consistent with the spot rate and the interest rate in each currency;
i Describe exchange rate regimes;
j Explain the impact of exchange rates on countries’ international trade and capital flows; |