ICMA FMFQ Exam - Topic 1 Question 91 Discussion

Actual exam question for ICMA's FMFQ exam

Question #: 91
Topic #: 1

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?

AQuote rate

BCross rate

CForward rate

DDual rate

Show Suggested Answer

Suggested Answer: B

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

Limited Time Offer

25%

Off

Get Premium FMFQ Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Callie

1 month ago

Wait, are you sure it's not a cross rate?

upvoted 0 times

...

Jarod

1 month ago

Definitely a forward rate, no doubt.

upvoted 0 times

...

Oren

2 months ago

It's called a forward rate!

upvoted 0 times

...

Delisa

2 months ago

Interesting, I had no idea about this terminology!

upvoted 0 times

...

Sylvia

2 months ago

I thought it was a quote rate, but I guess not!

upvoted 0 times

...

Shawnna

2 months ago

Wait, are you sure it's not a cross rate?

upvoted 0 times

...

Laurel

2 months ago

Definitely a forward rate, no doubt.

upvoted 0 times

...

Sabina

2 months ago

It's called a forward rate!

upvoted 0 times

...

Daniela

3 months ago

I feel like the answer is forward rate, especially since it's about a future transaction.

upvoted 0 times

...

Delisa

3 months ago

This sounds like a quote rate to me, but I could be mixing it up with something else we studied.

upvoted 0 times

...

Barney

3 months ago

I remember practicing a question about cross rates, but I don't think that's the right term here.

upvoted 0 times

...

Claribel

3 months ago

I think this might be a forward rate since it's for delivery in two days, but I'm not entirely sure.

upvoted 0 times

...