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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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Jerry

1 months ago

Oh, I know this one! The best rate for the customer is the one that will give them the most for their SEK. That would be B, 6.5392. Time to ace this exam!

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Justine

11 days ago

Bank A: Our rate is 6.5389.

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Jerrod

1 months ago

Wait, is this a trick question? What if the customer is actually a vampire and the best rate is the one that will let them exchange SEK for blood? Just kidding, I'm going with C.

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My

2 months ago

Hmm, I'm not sure about this. It seems like the answer could be different depending on whether the customer is buying or selling SEK. I better double-check my understanding.

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Shawana

2 days ago

User 3: I'm not sure, I think option D) 6.6371 might actually be better. Let's double-check.

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Claribel

9 days ago

User 2: I agree, that rate seems the most favorable compared to the other options.

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Andra

17 days ago

User 1: I think the best rate for the customer would be option B) 6.5392.

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Tiffiny

23 days ago

User 3: I'm not sure, but I think option A) 6.5389 might be the best rate for the customer.

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Tasia

28 days ago

User 2: I disagree, I believe option D) 6.6371 would be the best rate for the customer.

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Tresa

1 months ago

User 1: I think the best rate for the customer would be option B) 6.5392.

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Leatha

2 months ago

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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Fredric

2 months 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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Sabina

1 months ago

B) 6.5392

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Lynna

1 months ago

A) 6.5389

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Elenor

2 months ago

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

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Kristel

2 months ago

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

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Elenor

2 months ago

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

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