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ICMA FMFQ Exam - Topic 1 Question 80 Discussion

Actual exam question for ICMA's FMFQ exam
Question #: 80
Topic #: 1
[All FMFQ Questions]

A spot FX trade would traditionally follow which of the following settlement conventions?

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Suggested Answer: C

by Dorothea at May 03, 2025, 01:30 PM

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Eun
4 months ago
Yeah, A is the standard for spot FX.
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Gilma
4 months ago
I thought it was T + 1 day? Seems off.
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Avery
5 months ago
Spot FX trades settle on the same day, right?
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Kaitlyn
5 months ago
Definitely A, it's always been same day!
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Dan
5 months ago
Wait, same day? That sounds too quick!
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Adela
5 months ago
I feel like it’s T + 2 days, but I also recall some discussions about variations in different markets.
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Samira
5 months ago
I’m a bit confused; I thought spot trades were same day, but I might be mixing it up with something else.
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Jesus
6 months ago
I remember practicing a question about FX settlements, and I think it was T + 1 day for spot trades.
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Lashawnda
6 months ago
I think spot FX trades settle on T + 2 days, but I’m not completely sure.
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Mariko
6 months ago
This is a straightforward question. Spot FX trades always settle on the same day as the trade date, so the answer is A. No need to overthink it.
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Carey
6 months ago
I'm a bit confused on the settlement conventions for different FX products. Let me quickly review my notes to make sure I select the right answer here.
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Tess
7 months ago
Ah, I remember learning about this in my FX trading class. Spot FX trades typically settle on the second business day after the trade date, so the correct answer is T+2, option C.
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Ora
7 months ago
Hmm, I'm a bit unsure about this one. I know spot FX trades have a shorter settlement period than futures or forwards, but I can't remember if it's T+1 or T+2. I'll have to think this through carefully.
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Venita
7 months ago
I'm pretty sure a spot FX trade follows the T+2 settlement convention, so I'll go with option C.
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Louvenia
11 months ago
Haha, I bet the exam writer tried to trick us with those other options. T + 2 days is the only way to fly when it comes to spot FX.
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Estrella
10 months ago
It's good to be cautious, especially when it comes to financial transactions like these.
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Buck
10 months ago
I always make sure to double check the settlement date before finalizing a spot FX trade.
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Erick
10 months ago
Definitely, it's important to know the correct settlement convention to avoid any confusion.
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Wilford
10 months ago
I agree, T + 2 days is the standard settlement convention for spot FX trades.
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Doretha
11 months ago
I believe it's actually A) Same day, as some trades can be settled on the same day.
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Fidelia
11 months ago
Yeah, C is the correct answer. T + 2 days is the way to go. Anything faster and I'd be worried about the trade not settling properly.
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Coral
10 months ago
T + 2 days gives enough time for everything to settle smoothly.
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Luis
10 months ago
I always prefer T + 2 days for spot FX trades.
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Elza
10 months ago
I agree, C is the safest option for settlement.
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Carylon
11 months ago
I'm not sure, but I think it might be B) T + 1 day.
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Barrett
12 months ago
I agree with Gail, because that's the standard settlement convention for spot FX trades.
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Gail
12 months ago
I think the answer is C) T + 2 days.
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Royal
1 year ago
I think it's got to be T + 2 days. That's the standard settlement convention for spot FX trades, right?
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Laura
12 months ago
C) T + 2 days
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Aron
12 months ago
B) T + 1 day
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Luis
12 months ago
A) Same day
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