"economics"exercise:Forward rate
学习是一个不断积累的过程，每天学习一点，每天进步一点！为了帮助大家更高效地备考2021年CFA考试，正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试，梦想成真！
Questions 1:
Assume the following:
The USD/AUD spot rate is closest to:
A 、1.0296.
B 、1.0425.
C 、1.1154.
Questions 2:
If the domestic currency is trading at a forward premium, then relative to the interest rate of the domestic country, the interest rate in the foreign country is most likely:
A、 lower.
B、 higher.
C 、the same.
B is correct.
A is incorrect. It incorrectly subtracts forward premium from 1. (1 – 400/10000) × 1.43 = 1.3728 1.3728 × 0.75 = 1.0296
C is incorrect. It incorrectly adds forward premium to 1. (1 + 400/10000) × 1.43 = 1.4872 1.4872 × 0.75 = 1.1154
B is correct. The currency with the higher (lower) interest rate will always trade at a discount (premium) in the forward market. The lower interest rate in the domestic country will be offset by the appreciation of the domestic country’s currency over the investment horizon.
A is incorrect because the forward rate is trading at a premium and not at a discount.
C is incorrect because the forward rate does not equal the spot rate.
成功=时间+方法，自制力是这个等式的保障。世上无天才，高手都是来自刻苦的练习。而人们经常只看到“牛人”闪耀的成绩，其成绩背后无比寂寞的勤奋。小编相信，每天都在勤奋练习，即使是一点点的进步，大家一定可以成为人人称赞的“牛人”。更多CFA考试资讯，点击了解>
