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1、Lecture#3–PracticeQuestions–InternationalFinancialManagement456Chapter5–TheMarketforForeignExchange1.Mostforeignexchangetransactionsarefor A. interventionbycentralbanks.B. interbanktradesbetweeninternationalbanksornonbankdealers.C. retailtrade.D. purchaseofha
2、rdcurrencies.2.Thedifferencebetweenabrokerandadealeris A. dealersselldrugs;brokerssellhouses.B. brokersbringtogetherbuyersandsellers,butcarrynoinventory;dealersstandreadytobuyandsellfromtheirinventory.C. brokerstransactinstocksandbonds;currencyisboughtandsold
3、throughdealers.D. noneoftheabove3. Interventionintheforeignexchangemarketistheprocessof A. acentralbankrequiringthecommercialbanksofthatcountrytotradeatasetpricelevel.B. commercialbanksindifferentcountriescoordinatingeffortsinordertostabilizeoneormorecurrenci
4、es.C. acentralbankbuyingorsellingitscurrencyinordertoinfluenceitsvalue.D. thegovernmentofacountryprohibitingtransactionsinoneormorecurrencies.4.Thespotmarket A. involvesthealmost-immediatepurchaseorsaleofforeignexchange.B. involvesthesaleoffutures,forwards,an
5、doptionsonforeignexchange.C. takesplaceonlyonthefloorofaphysicalexchange.D. alloftheabove.5. Usingthetableshown,whatisthemostcurrentspotexchangerateshownforBritishpounds?UseadirectquotefromaU.S.perspective. A. $1.61=£1.00B. $1.60=£1.00C. $1.00=£0.625D. $1.72=
6、£1.006.Supposethatthecurrentexchangerateis€0.80=$1.00.Thedirectquote,fromtheU.S.perspectiveis A. €1.00=$1.25.B. €0.80=$1.00.C. £1.00=$1.80.D. Noneoftheabove1.Supposethatthecurrentexchangerateis€1.00=$1.60.Theindirectquote,fromtheU.S.perspectiveis A. €1.00=$1.
7、60.B. €0.6250=$1.00.C. €1.60=$1.00.D. Noneoftheabove2.TheBidprice A. isthepricethatthedealerhasjustpaidforsomething,hishistoricalcostofthemostrecenttrade.B. isthepricethatadealerstandsreadytopay.C. refersonlytoauctionslikeeBay,notoverthecountertransactionswit
8、hdealers.D. isthepricethatadealerstandsreadytosellat.3.Supposethespotaskexchangerate,Sa($
9、£),is$1.90=£1.00andthespotbidexchangerate,Sb($
10、£),is$1.89=£1.00.Ifyouweretobuy$10,000,000worthofB
