ICMA Exam FMFQ Topic 2 Question 60 Discussion

Actual exam question for ICMA's FMFQ exam

Question #: 60
Topic #: 2

[All FMFQ Questions]

A customer wants to sell SEK and asks 4 banks for a rate. Which of the following would be the best rate for the customer?

A6.5389

B6.5392

C6.5384

D6.6371

Show Suggested Answer

Suggested Answer: D

by Daryl at Jul 02, 2024, 12:03 PM

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Okay, let's think this through. The customer wants to sell SEK, so the best rate would be the highest one, right? I'm going with B.

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14 days ago

Wow, this is a tough one! I need to make sure I understand the concept of exchange rates before tackling this question.

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16 days ago

That's a good point, Kristel. The customer would get more SEK for their currency with option D).

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20 days ago

I disagree, I believe option D) 6.6371 would be the best rate because it is the highest.

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21 days ago

I think the best rate for the customer would be option B) 6.5392.

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