周教授CFA金融课程(2019/2020年CFA一级全系列课程)

申请CFA一级会员免费学习、免费延期、高通过率。

周教授CFA金融课程(2020年CFA二级全系列课程)

申请CFA二级会员免费学习、免费延期、高通过率。

周教授CFA金融课程:考点精讲+作答须知(2020年CFA三级全系列课程)

全球最好CFA三级课程,由美国大学金融学资深教授,博士,CFA 持证人、博士生导师 - 周教授亲自授课,中国知名大学教授、硕博团队协作出品,高通过率

 

CFA报名详细流程图,CFA考生自己即可完成报名
上一主题:Reading 19: Foreign Exchange Parity Relations-LOS g 习题精选
下一主题:Reading 19: Foreign Exchange Parity Relations-LOS d 习题精选
返回列表 发帖
周教授CFA金融课程:2019/2020年CFA一二三级系列课程

Reading 19: Foreign Exchange Parity Relations-LOS f 习题精选

Session 4: Economics for Valuation
Reading 19: Foreign Exchange Parity Relations

LOS f: Describe a fixed exchange rate and a pegged exchange rate system.

 

 

An exchange rate system that involves a country's commitment to use fiscal and monetary policy to maintain the country's exchange rate within a narrow band is a:

A)
floating exchange rate system
B)
pegged exchange rate system.
C)
fixed rate, unified currency system.


 

An exchange rate system that involves a country's commitment to use fiscal and monetary policy to maintain the country’s exchange rate within a narrow band is a pegged exchange rate system.

In a pegged exchange rate system the:

A)

monetary authority maintains the exchange rate within a narrow band relative to other currencies.

B)

currency is backed by actual holdings of another currency, such as the U.S. dollar.

C)

exchange rate is fixed by governmental fiat and not allowed to float freely.



This type of system requires a country to use its monetary policy to maintain the desired exchange rate within a narrow range relative to other currencies.

TOP

A country that uses a fixed exchange rate system is least likely to:

A)
run a current account surplus in consecutive years.
B)
employ discretionary fiscal policy.
C)
use discretionary monetary policy to keep the exchange rate within a narrow band around the target rate.


Under a fixed exchange rate system, the country gives up discretion about monetary policy and creates domestic currency only up to its holdings of the foreign currency into which it promises to convert the domestic currency. A pegged exchange rate system uses monetary policy to keep the currency’s foreign exchange value within a band relative to a target. A country with a fixed exchange rate remains free to use discretionary fiscal policy. The state of its current and capital accounts will depend on its trade and investment flows.

TOP

返回列表
上一主题:Reading 19: Foreign Exchange Parity Relations-LOS g 习题精选
下一主题:Reading 19: Foreign Exchange Parity Relations-LOS d 习题精选