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ICMA FMFQ Exam - Topic 1 Question 91 Discussion

You have asked a bank to give you a rate at which you can sell SEK (Sweish Krone) and buy NOK (Norwegian Krone) for delivery in two days. What is the name of this sort of FX rate?
B) Cross rate
A) Quote rate
C) Forward rate
D) Dual rate

ICMA FMFQ Exam - Topic 1 Question 91 Discussion

Actual exam question for ICMA's FMFQ exam
Question #: 91
Topic #: 1
[All FMFQ Questions]

You have asked a bank to give you a rate at which you can sell SEK (Sweish Krone) and buy NOK (Norwegian Krone) for delivery in two days. What is the name of this sort of FX rate?

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Suggested Answer: B

by Kristin at Mar 08, 2026, 09:48 PM

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Buddy
14 days ago
Definitely Forward rate. It's all about timing in FX.
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Jenelle
19 days ago
I'm leaning towards Cross rate. It's about two currencies.
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Elliott
24 days ago
I agree, Forward rate fits. It's for a specific date.
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Edward
29 days ago
I think it's a Forward rate. Makes sense for future delivery.
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Whitley
1 month ago
Definitely forward rate. It’s a common term in FX trading.
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Cyril
1 month ago
I'm leaning towards cross rate. It's about two currencies.
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Carmelina
1 month ago
I agree, forward rate sounds right. It's for two days ahead.
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Bettina
2 months ago
I think it's a forward rate. Makes sense for future delivery.
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Alayna
2 months ago
Definitely Forward rate. It's for two days ahead!
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Venita
2 months ago
Not so sure. Could it be a Cross rate?
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Dahlia
2 months ago
I agree, Forward rate fits. It's about timing.
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Melissa
2 months ago
I think it's a Forward rate. Makes sense for future delivery.
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Franklyn
3 months ago
Forward rate makes sense, but I didn't expect that!
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Tonette
3 months ago
I thought it was a quote rate, but maybe I'm wrong.
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Callie
4 months ago
Wait, are you sure it's not a cross rate?
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Jarod
4 months ago
Definitely a forward rate, no doubt.
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Oren
5 months ago
It's called a forward rate!
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Delisa
5 months ago
Interesting, I had no idea about this terminology!
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Sylvia
5 months ago
I thought it was a quote rate, but I guess not!
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Shawnna
5 months ago
Wait, are you sure it's not a cross rate?
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Laurel
5 months ago
Definitely a forward rate, no doubt.
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Sabina
5 months ago
It's called a forward rate!
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Daniela
6 months ago
I feel like the answer is forward rate, especially since it's about a future transaction.
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Delisa
6 months ago
This sounds like a quote rate to me, but I could be mixing it up with something else we studied.
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Barney
6 months ago
I remember practicing a question about cross rates, but I don't think that's the right term here.
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Claribel
6 months ago
I think this might be a forward rate since it's for delivery in two days, but I'm not entirely sure.
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