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ICMA Exam FMFQ Topic 6 Question 79 Discussion

Actual exam question for ICMA's FMFQ exam
Question #: 79
Topic #: 6
[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 Margo at Apr 08, 2025, 09:18 AM

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Yuki
7 days ago
I'll go with B) Cross rate. It's the only one that sounds like it actually applies to exchanging between two foreign currencies.
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Ernie
12 days ago
A) Quote rate? More like 'what rate?' I'm not even sure what that means in this context.
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Buck
15 days ago
D) Dual rate? What kind of rate is that? Sounds like something you'd find in a sci-fi novel, not a banking exam.
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Gretchen
23 days ago
C) Forward rate seems like the right answer here. We're talking about a future delivery, so that makes sense.
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Arlette
1 months ago
I think the answer is B) Cross rate. That's the most logical choice for exchanging between two currencies like SEK and NOK.
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Charlesetta
2 days ago
Actually, it's B) Cross rate. That's the rate at which two currencies are exchanged, like SEK and NOK.
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Latricia
3 days ago
I think it's A) Quote rate. That's the rate at which a bank or broker will sell a currency to you.
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Casey
13 days ago
I agree, B) Cross rate is the correct answer. It's the rate at which you can exchange one currency for another.
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Alaine
1 months ago
I'm not sure, but I think it might be C) Forward rate, since it's for delivery in two days.
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Nadine
2 months ago
I agree with Elinore, because it involves two different currencies.
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Elinore
2 months ago
I think the answer is B) Cross rate.
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