Which of the following statements regarding currency futures contracts and forward contracts is NOT true?
A futures contract is a standardized amount per currency whereas the forward contact is for any size desired.
B. A futures contract is for a fixed maturity whereas the forward contract is for any maturity you like up to one year.
C. Futures contracts trade on organized exchanges whereas forwards take place between individuals and banks with other banks via telecom linkages.
D. All of the above are true.
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Andrea Cujoli is a currency speculator who enjoys "betting" on changes in the foreign currency exchange market. Currently the spot price for the Japanese yen is ¥129.87/$, and the 6-month forward rate is ¥128.53/$. Andrea thinks the yen will move to ¥128.00/$ in the next six months. Andrea should ________ at ________ to profit from changing currency values.
A. buy yen; at the forward rate
B. buy dollars; at the forward rate
C. sell yen; at the forward rate
D. There is not enough information to answer this question
Which of the following refers to the net balance of capital that flows into and out of a country but does not reach the 10% ownership.
A. Foreign direct investment
B. Portfolio investment
C. International loans
D. Trade capital flows
Dash Brevenshure works for the currency trading unit of ING Bank in London. He speculates that in the coming months the dollar will rise sharply vs. the pound. What should Dash do to act on his speculation?
A. Buy a call on the pound.
B. Sell a call on the pound.
C. Buy a put on the pound.
D. Sell a put on the pound.
Which of the following about foreign direct investment is true?
A. Foreign direct investment is for the purpose of exerting control over assets.
B. When the capital flows out of China, it enters the balance of payments as a positive cash flow.
C. If a foreign firm purchases a firm in China, it enters the balance of payments negatively.
D. Foreign direct investment is completely uncontroversial.
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