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ICMA FMFQ Exam - Topic 5 Question 98 Discussion

Which of the following best describes LIBOR?
B) The average rate at which wholesale banks are offering one another money at fixing time
A) The average rate at which wholesale bank deposits have taken place over the past 24 hours (since the last LIBOR fix)
C) The highest rate at which wholesale banks are offering one another money at fixing time
D) The average rate at which wholesale banks have offered money to their customers over the past 24 hours (since the last LIBOR fix)

ICMA FMFQ Exam - Topic 5 Question 98 Discussion

Actual exam question for ICMA's FMFQ exam
Question #: 98
Topic #: 5
[All FMFQ Questions]

Which of the following best describes LIBOR?

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Suggested Answer: B

by Minna at Jul 02, 2026, 01:54 PM

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Ena
2 days ago
D is totally off, it’s not about customer rates.
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Jerilyn
7 days ago
Wait, is LIBOR really just an average? Seems too simple!
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Theola
12 days ago
C sounds wrong, LIBOR isn't about the highest rates.
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Anisha
17 days ago
I thought it was A at first, but B makes more sense.
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Lezlie
22 days ago
It's definitely B, that's the standard definition.
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Polly
28 days ago
I definitely recall that LIBOR is not about customer rates, so I think D is definitely wrong. But I’m still torn between A and B.
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Argelia
1 month ago
I’m a bit confused about the difference between the average and the highest rates. I feel like I might mix up A and B.
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Lonna
1 month ago
I remember practicing a question similar to this, and I think it was about the average rate at fixing time, which might point to option B.
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Shawna
1 month ago
I think LIBOR is related to the rates banks offer each other, but I’m not sure if it’s the average or the highest rate.
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