CFA Practice Question

There are 341 practice questions for this study session.

CFA Practice Question

A direct quote is usually made in terms of the amount of ______.

A. foreign currency required to purchase one unit of local currency
B. local currency required to purchase one unit of foreign currency
C. local currency that the U.S. dollar purchases
Correct Answer: B

User Contributed Comments 1

User Comment
vatsal92 Note: - Numerator = Domestic/Price, Denominator = Foreign/Base
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