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Basic Question 12 of 12

The ______ is the difference between bid and ask rates for a currency and relies on market conditions for that specific currency.

A. bid-ask spread
B. cross rate
C. spot-forward differential
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Learning Outcome Statements

describe the foreign exchange market, including its functions and participants, distinguish between nominal and real exchange rates, and calculate and interpret the percentage change in a currency relative to another currency

CFA® 2025 Level I Curriculum, Volume 1, Module 7.