Chapter 3 International Financial Markets练习答案+详解.doc

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1、Chapter3InternationalFinancialMarkets1.Assumethatabank'sbidrateonSwissfrancsis$.45anditsaskrateis$.47.Itsbid-askpercentagespreadis:A)about4.44%.B)about4.26%.C)about4.03%.D)about4.17%.ANSWER:Bbid/askspread=askrate–bidrateaskrateSOLUTION:Bid-askpercentagespread=($.4

2、7-$.45)/$.47=4.26%2.Assumethatabank'sbidrateonJapaneseyenis$.0041anditsaskrateis$.0043.Itsbid-askpercentagespreadis:A)about4.99%.B)about4.88%.C)about4.65%.D)about4.43%.ANSWER:CSOLUTION:Bid-askpercentagespread=($.0043-$.0041)/$.0043=4.65%3.Thebid/askspreadforsmallr

3、etailtransactionsiscommonlyintherangeof______percent;thebid/askspreadforwholesaletransactionsiscommonlyintherangeof______percent.A)3to7;.01to.03B)2to5;.05to.10C)10to15;.01to.03D)1to2;.05to.07ANSWER:A4._______isnotafactorthataffectsthebid/askspread.A)OrdercostsB)In

4、ventorycostsC)VolumeD)Alloftheabovefactorsaffectthebid/askspreadANSWER:D5.Theforwardrateistheexchangerateusedforimmediateexchangeofcurrencies.A)true.B)false.ANSWER:B6.Theaskquoteisthepriceforwhichabankofferstosellacurrency.A)true.B)false.ANSWER:A7.Accordingtothete

5、xt,theforwardrateiscommonlyusedfor:A)hedging.B)Eurocurrencytransactions.C)Eurocredittransactions.D)Eurobondtransactions.ANSWER:A8.IfaU.S.firmdesirestoavoidtheriskfromexchangeratefluctuations,anditisreceiving100,000in90days,itcould:A)obtaina90-dayforwardpurchasecon

6、tractoneuros.B)obtaina90-dayforwardsalecontractoneuros.C)purchaseeuros90daysfromnowatthespotrate.D)selleuros90daysfromnowatthespotrate.ANSWER:B9.IfaU.S.firmdesirestoavoidtheriskfromexchangeratefluctuations,anditwillneedC$200,000in90daystomakepaymentonimportsfromCa

7、nada,itcould:A)obtaina90-dayforwardpurchasecontractonCanadiandollars.B)obtaina90-dayforwardsalecontractonCanadiandollars.C)purchaseCanadiandollars90daysfromnowatthespotrate.D)sellCanadiandollars90daysfromnowatthespotrate.ANSWER:A10.AssumetheCanadiandollarisequalto

8、$.88andthePeruvianSolisequalto$.35.ThevalueofthePeruvianSolinCanadiandollarsis:A)about.3621Canadiandollars.B)about.3977Canadiandollars.C)about2.36Canadi