ĐỀ KT MÔN TÀI CHÍNH QUỐC TẾ

1. The International Monetary System (IMS) has undergone several transformations: (i)
Bimetallism system; (ii) Bretton Woods system; (iii) Classical Gold Standard; (iv)
Interwar period. The chronological order of development of the IMS is

Select one:

a. (i), (iii), (ii), (iv)

b. (iii), (i), (iv), (ii)

c. (ii), (i), (iii), (iv)

d. (i), (iii), (iv), (ii)

2. The Bretton Woods Conference in 1944 resulted in the birth and operation of:

Select one:

a. A fixed but adjustable exchange rate system (2)

b. A system in which members are free to choose their exchange rate regime (1)

c. The currencies of the member countries are freely convertible to gold (3)

d. (1) and (3) are correct

3. Suppose the inflation rate in Australia goes up relative to the U.S. inflation rate. What
effect will that have on the supply, demand, and equilibrium exchange rate of the
Australian dollar?

Select one:

a. The supply of Australian dollars will go down, the demand for Australian dollars
will go up, and the Australian dollar will depreciate
 d. The supply of Australian dollars will go up, the demand for Australian dollars will
go down, and the Australian dollar will appreciate

c. The supply of Australian dollars will go up, the demand for Australian dollars will
go down, and the Australian dollar will depreciate

d. The supply of Australian dollars will go down, the demand for Australian dollars
will go up, and the Australian dollar will appreciate

4. Absolute PPP says that:

Select one:

a. At one point in time, exchange rate is determined by the ratio of the prices of two
baskets of goods in terms of two currencies (2)

b. Identical items in different markets will cost the same when denominated in the
same currency (3)

c. Between two points in time, the exchange rate change is equal to the inflation
difference of the two currencies (1)

d. (1), (2), (3) are all correct.

5. Which of the following are possible contract periods for forward contracts?

a. 97 days

b. 30 days

O c. All of the above

O d. 65 dáy
6. An increase in UK interest rates relative to euro interest rates is likely to for euros and
sale the UK demand the supply of euros for

Select one:

a. Reduce; increase

b. Increase; increase
 c. Reduce; reduce

d. Increase; reduce

7. Suppose interest rates in Europe increase relative to U.S. interest rates. What effect
will that have on the supply, demand, and equilibrium exchange rate of the euro (€)
Select one:

a. The supply of euros will go down, the demand for euros will go up, and the euro
will appreciate

O b. The supply of euros will go up, the demand for euros will go down, and the euro
will depreciate

O c. The supply of euros will go up, the demand for euros will go down, and the euro
will appreciate

O d. The supply of euros will go down, the demand for euros will go up, and the euro
will depreciate

Clear my choice
8. Tỷ giá giao ngay hiện tại là 0,9260 CHF / USD. Lạm phát dự kiến ở Thụy Sĩ là 1%
trong khi lạm phát kỳ vọng ở Mỹ là 4%. Giả sử rằng PPP được giữ. Tỷ giá giao ngay
kỳ vọng sau một năm là:

A .0,8900CHE / USD

B . 0,9535CHF / USD

C. 0,9538CHF / USD

d. 0,8993 CHF / USD

9. Which of the following is not a reason for deviations in PPP?

Select one:

a. Trade barriers

b. All of the mentioned are reasons for deviations

c. Interest rate differentials

 d, Relative income levels
10. According to the International Fisher effect, two economies have different nominal
interest rates because:

Select one:

a. Different economic structures

b. Different levels of expected inflation

c. Different expected real interest rates

d, Different expected real interest rates as well as different levels of expected inflation
11. Which of the following is not a factor that affects exchange rates?

Select one:

a. Relative income levels

b. Relative inflation rates

c. Relative interest rates

d. All of the mentioned are factors that affect exchange rates

12. The Japanese exporter has EUR 1,500,000 in receivables over the next 6 months, the
exporter can hedge against exchange rate risk by:

Select one:

a. Selling 6 month forward contract for EUR 1,500,000

O b. Selling EUR futures contracts traded on the OTC market

O c. Buying call option for EUR 1,500,000 in the next 6 month

O d. Entering a swap contract to buy spot and sell 6 months forward for EUR
1,500,000
13. The theory implying that the inflation differential between two economies reflects the
difference in nominal interest rates between the two economies is

Select one:

O a. Relative purchasing power parity/

O b. Covered interest rate parity

 O c. Uncovered interest rate parity

e. The International Fisher Effect

14. News of a potential surge in U.S. inflation and zero Chilean inflation places on the
value of the Chilean peso. The pressure will occur Course introduction

Select one:

a. Upward; only after the US inflation surges

Ob downward; immediately

b. Downward, only after the US. Inflation surges

D upward immediately
15. Under perfectly competitive market conditions, without freight and trade barriers,
identical goods traded in two different markets must have the same price when
converted to a currency. This theory is:

Select one:

a. Law of one price

O b. Uncovered interest rate parity

O c. International Fisher Effect

O d. Purchasing power parity

16. The IMF released its forecast for inflation in Korea at 6.5% this year. Meanwhile,
inflation in the US is expected by analysts to stay at 2.5% this year. According to
PPP, how do investors expect the exchange rate of USD (against KRW)?

Select one:

Oa. USD decreases by about 4%

b. PPP does not give implication on exchange rate forecast

Oc. USD increases by about 4%

O d. The rate of USD is unchanged

17. Which of the following statements about futures contracts is NOT TRUE

Select one:
 a. Futures contract parties must deposit initial margin and maintenance margin

b. The clearing house determines the profit and loss of the traders on the delivery
days

c. Contract size, delivery day, delivery month and last trading day of future contracts
are standardized

d. Futures contracts are guaranteed by the clearing house

18. Suppose income levels in Australia go up relative to the U.S. levels. What effect will
that have on the supply, demand, and equilibrium price of U.S. dollars?

Select one:

a. The supply of U.S. dollars will go up, the demand for U.S. dollars will go down,
and the U.S. dollar will appreciate

O b. The supply of U.S. dollars will not change, the demand for U.S. dollars will go
up, and the U.S. dollar will appreciate

O c, the supply of U.S. dollars will not change, the demand for U.S. dollars will go
up, and the U.S. dollar will depreciate

e. The supply of U.S. dollars will go up, the demand for U.S. dollars will go down,
and the U.S. dollar will depreciate

19. If inflation in New Zealand suddenly increased while Euro Area inflation stayed the
same, there would be:

Select one:

O a. An outward shift in the demand schedule for NZ$ and an outward shift in the
supply schedule for NZ$.

O b. An outward shift in the demand schedule for NZ$ and an inward shift in the
supply schedule for NZ$.

b. An inward shift in the demand schedule for NZ$ and an outward shift in the
supply schedule for NZ$
 O d. An inward shift in the demand schedule for NZ$ and an inward shift in the
supply schedule for NZ$.

Clear my choice
20. Which of the following is NOT a characteristic of the Bretton Woods system:

Select one:

a. Possible BOP imbalance

O b. The exchange rate between USD and other currencies is fixed but can be
adjusted in a range of +/- 1%

b. Only USD is used as an international reserve

O d. Central banks are obligated to maintain a stable exchange rate

21. Which of the following is a limitation in fundamental forecasting?

a. Uncertain timing of impact (1)

b. The forecasts are always inaccurate (2)

c. Omission of other relevant factors from the model (3)

d. (1) and (3)

22. Which of the following are possible contract periods for forward contracts?

Select one:

a. 30 days

b. 97 days

O c. All of the above

c. 65 dáy
23. The main functions of the International Monetary Fund (IMF) do NOT include

Select one:

a. Increasing the stability of the exchange rate

 b. Financing temporary balance of payments deficits of member states

O c. Establishing major financial centers in the world

c. Promoting cooperation among countries in international monetary policy

24. Mexicocorp (Mexico) has about $3,500,000 in receivables over the next three months.
Mexicocorp wil hedge against exchange rate

Select one:

a. Buying future contract to sell 3,500,000 in 3 months

b. Entering a swap contract in which the company sells spot and buys 3-month
forward for USD3,500,000

c. Selling 3-month forward for USD 3,500,000 VND

O d. Buying a call option contract for USD3,500,000 in 3 months

25. Which of the following is a similarity between the currency futures market and the
forward market?

Chưa trả lời

Dat diem 1,0

Select one:

a. Both use standardized delivery dates

b. Both are self-regulating

c. Both use standardized contract sizes

d. None of the above are similarities

26. There are various forms of purchasing power parity (PPP) theory. Which form of PPP
is also known as the “law of one price”?

Chưa trả lời

Dat diem 1,0

 Select one:

a. None of the mentioned

b. Absolute form

O c. Relative form

c. Numerical form

Clear my choice
27. Currently, the 6-month forward point of GBP is 145-138. Britishcorp (UK) buys 6-
month forward contract for USD 1,128,600. If the spot rate 2 months later is
USD1.5220/GBP, the Britishcorp forward contract will:

Select one:

O a. Unable to determine

O b. Get profit

d. Get neither profit nor loss

e. Get loss
28. Which of the following is not a method of forecasting exchange rates?

Select one:

P Đặt cỡ

a. Institutional

b. Technical

c. Fundamental

Od. Market-based
29. If a country experiences high inflation relative to the UK, its exports to the UK should
its imports should and there is pdressure on its currency’s equilibrium value.

Select one:

a. Decrease; decrease; downward

 O b. Decrease; decrease; upward

b. Decrease; increase; upward

c. Decrease; increase: downward

30. According to the International Fisher effect, two economies have different nominal
interest rates because:

a. Different levels of expected inflation

b. Different expected real interest rates

O c. Different expected real interest rates as well as different levels of expected

inflation

c. Different economic structures

31. Assume that domestic inflation is higher than foreign inflation. How will this affect
the supply of foreign currency, the demand for foreign currency and the exchange rate
in the foreign exchange market?

Select one:

a. Supply increases, demand decreases and the exchange rate rises

O b. Supply decreases, demand increases and the exchange rate increases

b. Supply decreases, demand does not change, and the exchange rate falls.

c. Supply increases, demand decreases and the exchange rate falls

32. News of a potential surge in U.S. inflation and zero Chilean inflation places pressure
on the value of the Chilean peso. The pressure will occur

Select one:

a. Downward; only after the U.S. inflation surges

b. Upward: only after the U.S. inflation surges

c. Upward; immediately

d. Downward: immediately
33. Any event that reduces the euro area demand for Japanese yen should result in a(n)
Respect to other things being equal

Select one:

a. Increase; noneuro currencies

b. Decrease; noneuro currencies

c. Decrease; euro

d. Increase; euro

34. In the value of the Japanese yen with The Bretton Woods Conference in 1944 resulted
in the birth and operation of

Select one:

a. A fixed but adjustable exchange rate system (2)

O b. A system in which members are free to choose their exchange rate regime (1)

b. The currencies of the member countries are freely convertible to gold (3)

c. (1) and (3) are correct

Clear my choice
35. If a forecaster predicts the British pound to be $1.70 in one year, but the spot rate of
the pound turns out to be $1.80 in one year, what is the absolute forecast error as a
percentage of realized value?

Select one:

O a. 5.56%

O b.-5.56%

O c. -5.88%

O d. 5.88%
36. If a forecaster predicts the British pound to be $1.70 in one year, but the spot rate of
the pound turns out to be $1.80 in one year, what is the absolute forecast error as a
percentage of realized value?

Select one:

a. 5.56%

b. -5.56%

C.-5.88%

O d. 5.88%
37. Which of the following does NOT explain why PPPs do not actually exist:

P Đặt cỡ

a. Commodity basket structure of economies including those that do not participate

in international trade

b. Shipping cost

c. Trade barriers such as taxes and fees exist

O d. The basket structure of the economies is the same

Clear my choice
38. Forecasting involves use of historical exchange rate data to predict future values.

Select one:

A none of the mentioned

c. Fundamental

O market-based

Od technical
39. The Bretton Woods Conference in 1944 resulted in the birth and operation of
Select one:
a. The currencies of the member countries are freely convertible to gold (3)
b. A fixed but adjustable exchange rate system (2)
c. A system in which members are free to choose their exchange rate regime (1)
d. (1) and (3) are correct