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Basic Question 1 of 14
A foreign exchange ______, which is between a bank and a customer (or another bank), specifies delivery, at a fixed future date, of a fixed amount of one currency against another currency.
B. forward contract
C. futures contract
A. contract
B. forward contract
C. futures contract
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Learning Outcome Statements
calculate and outright forward quotation from forward quotations expressed on a points basis or in percentage terms;
explain the arbitrage relationship between spot rates, forward rates, and interest rates;
calculate and interpret a forward discount or premium;
calculate and interpret the forward rate consistent with the spot rate and the interest rate in each currency;
CFA® 2024 Level I Curriculum, Volume 2, Module 15.