Exchange rates: exam actually, first, practice, exchange, against

parott

How do you expect the exchange rate quotes to be on the paper?

I had done a lot of practice with AUD:USD format as against the algebraic ratio format. But all i see on schweser mocks is the latter format.

I actually find the first format easy.

brainsX

I actually asked the same question a few weeks back... didn't really get a straight answer in here.

But since then I started reading a bitmore... and It seems like both formats are possible. CFAI I believe mentions that they're trying to follow market covention by showing AUD:USD format.. But I don't think that means that AUD/USD format can't be on the exam.

What I do when I do any question is.. I convert any AUD/USD to the other format.

Sorry that I don't have a straight forward answer for you

smuggycfa

Hey, that helps man. I like your answer no matter what.
Even I do the same: I convert it to the market convention. It's very easy to caculate the cross rates particularly then. I don't need a triangle. And what the heck is schweser doing by some stupid rule: up the bid, down the ask. That kinda sucks. Making things complicated.