答案和详解如下： Q1. Given an exchange rate of 0.9250 USD/CAD and 1.6250 USD/SF what is exchange rate quoted in CAD/SF? A) 0.5692. B) 1.7568. C) 1.5032. Correct answer is B (1.6250 USD/SF) / (0.9250 USD/CAD) = 1.7568 CAD/SF Q2. Given P the direct quotes in U.S. dollars for the Mexican peso (MXN) and the Peruvian nuevo sol (PEN), determine the MXN/PEN bid-ask cross rates. Select the closest correct answer. USD/MXN Bid/Ask: 0.11001 - 0.11036 USD/PEN Bid/Ask: 0.28818 - 0.28918 A) MXN/PEN 2.62890 - 2.64630 B) MXN/PEN 2.61127 - 2.62867 C) MXN/PEN 0.38300 - 0.38554 Correct answer is B) We recommend using the following "Bid-Ask Matrix Method" to calculate the bid and ask quotes: Step 1: Put the bid-ask quotes into a matrix. Use direct quotes in the common currency. Currency | Bid | Ask | MXN | 0.11001 | 0.11036 | PEN | 0.28818 | 0.28918 |
Step 2: "Divide Out" the diagonals and take the reciprocal. Remember that the quotes are direct quotes for a USD investor.(Remember to put MXN in the numerator - because MXN is in the numerator of the quote we are asked to calculate.)MXNBid / PENAsk = 0.11001 USD/MXN / 0.28918 USD/PEN = 0.38042 PEN/MXN, 1 / 0.38042 PEN/MXN = 2.62867 MXN/PEN MXNAsk / PENBid = 0.11036 USD/MXN / 0.28818 USD/PEN = 0.38296 MXN/PEN, 1 / 0.38296 PEN/MXN = 2.61127 MXN/PEN Step 3: Quote : The MXN/PEN Bid-Ask is: (Note: The lower number from Step 2 is the bid, the higher number is the ask.) MXN/PEN 2.61127 to 2.62867 Q3. Given the following quotes: 2.00 GBP/USD and 8.00 Pesos/USD, calculate the direct Pesos/GBP spot cross exchange rate. A) 0.625. B) 4.000. C) 0.250. Correct answer is B) The direct method of quoting currencies is domestic currency / foreign currency or GBP/Pesos. You need to calculate what one peso is worth in pounds, 8 / 2 = 4. Q4. A bank in Canada is quoting CAD/USD bid 1.4950 − ask 1.5005, and USD/EUR bid 0.9350 − ask 0.9400. What is exchange rate bid and ask for CAD/EUR? A) CAD/EUR bid 1.3978 − ask 1.4105. B) CAD/EUR bid 1.5904 − ask 1.6048. C) CAD/EUR bid 0.6254 − ask 0.6264. Correct answer is A)
First invert the USD/EUR quote by 1 / 0.9350 = 1.0695 and 1 / 0.9400 = 1.0638 for a EUR/USD bid-ask spread of 1.0638 − 1.0695 EUR/USD. Then set up a bid-ask matrix. 1.4950 / 1.0695 = 1.3978 CAD/EUR 1.5005 / 1.0638 = 1.4105 CAD/EUR The CAD/EUR bid-ask spread is 1.3978 − 1.4105 Q5. Given the following quotes for the Canadian dollar (CAD) and the British pound (BP), determine the CAD/BP bid-ask spread. (Note: Carry calculations to at least five decimal places) CAD/$ Bid Ask 1.59031 − 1.59701 / CAD/$
BP/$ Bid Ask 0.69459 − 0.69686 / BP/$ A) 2.29921 − 2.31631 CAD/BP. B) 2.28957 − 3.28863 CAD/BP. C) 2.28211 − 2.29921 CAD/BP. Correct answer is C) We recommend using the following "Bid-Ask Matrix Method" to calculate the bid and ask quotes: Step 1: Put the bid-ask quotes into a matrix as below: Currency | Bid | Ask | CAD/$ | 1.59031 | 1.59701 | BP/$ | 0.69459 | 0.69686 |
Step 2: “Divide Out” the diagonals.(Remember to put CAD in the numerator - because CAD is in the numerator of the quote we are asked to calculate.) CADBid / BPAsk = 1.59031 CAD/$ / 0.69686 BP/$ = 2.28211 CAD/BPBid CADAsk / BPBid = 1.59701 CAD/$ / 0.69459 BP/$ = 2.29921 CAD/BPAsk | 
发表于 2009-1-13 11:33
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