Q1. If the exchange rate is JPY120/USD1, a bottle of rice wine that costs JPY2,400 costs:
     

A)   USD 24.
     

B)   USD 200.
     

C)   USD 20.
     

Q2. Given an indirect quote of 2.2254 CHF/GBP, what is the direct quote?

A)   4.4940 GBP/CHF.

B)   0.4494 GBP/CHF.

C)   0.0449 GBP/CHF.

Q3. In the U.S., the indirect quote of 0.827541 euros per U.S. dollar (EUR/USD) is the equivalent of a direct quote of:

A)   0.0012 USD/EUR.

B)   1.2084 USD/EUR.

C)   0.1208 USD/EUR.

Q4. If the exchange rate value of the CAD goes from USD 0.60 to USD 0.80, then the CAD:
     

A)   depreciated and Canadians will find U.S. goods more expensive.

B)   depreciated and Canadians will find U.S. goods cheaper.

C)   appreciated and Canadians will find U.S. goods cheaper.

Q5. In Japan, the direct quote of 108.82 Japanese yen per U.S. dollar (JPY/USD) is the equivalent of an indirect quote of:

A)   0.009189 USD/JPY.

B)   0.091895 USD/JPY.

C)   0.918949 USD/JPY.

[此贴子已经被作者于2009-1-13 11:27:16编辑过]

答案和详解如下：

Q1. If the exchange rate is JPY120/USD1, a bottle of rice wine that costs JPY2,400 costs:

A)   USD 24.

B)   USD 200.

C)   USD 20.

Correct answer is C)

If USD1 buys JPY120, USD20 buys JPY2,400, which is the price of the bottle of wine. (USD/JPY120) × (JPY2,400/wine) = USD20/wine

Q2. Given an indirect quote of 2.2254 CHF/GBP, what is the direct quote?

A)   4.4940 GBP/CHF.

B)   0.4494 GBP/CHF.

C)   0.0449 GBP/CHF.

Correct answer is B)

0.4494 GBP/CHF is the reciprocal of 2.2254 CHF/GBP.

Q3. In the U.S., the indirect quote of 0.827541 euros per U.S. dollar (EUR/USD) is the equivalent of a direct quote of:

A)   0.0012 USD/EUR.

B)   1.2084 USD/EUR.

C)   0.1208 USD/EUR.

Correct answer is B)

1.2084 USD/EUR is the reciprocal of 0.827541 EUR/USD.

Q4. If the exchange rate value of the CAD goes from USD 0.60 to USD 0.80, then the CAD:

A)   depreciated and Canadians will find U.S. goods more expensive.

B)   depreciated and Canadians will find U.S. goods cheaper.

C)   appreciated and Canadians will find U.S. goods cheaper.

Correct answer is C)

The CAD is now more expensive in terms of USD, and thus it has appreciated. Therefore, each CAD yields more USD than before, and Canadians are able to purchase more U.S. goods with each CAD, making U.S. goods relatively cheaper.

Q5. In Japan, the direct quote of 108.82 Japanese yen per U.S. dollar (JPY/USD) is the equivalent of an indirect quote of:

A)   0.009189 USD/JPY.

B)   0.091895 USD/JPY.

C)   0.918949 USD/JPY.

Correct answer is A)

0.009189 USD/JPY is the reciprocal of 108.82 JPY/USD.

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