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The directions issued under section 45W of the Reserve Bank

of India Act, 1934 are titled Currency Futures (Reserve Bank)
Directions, 2008 came into force w.e.f. 6th ________
A. August, 2008.
B. September, 2008
C. October, 2008
D. November, 2008
E. I am not attempting this question

ANSWER: A

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Value Tom (Tomorrow) = Trade Date + 1 i.e. ____ business day

after deal date

A. 1
B. 2
C. 3
D. 4
E. I am not attempting this question
ANSWER: A

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Long Hedger will

A. Long currency futures
B. Short Currency Futures
C. Both of the Above
D. None of the Above
E. I am not attempting this question
ANSWER: A

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An Investor is holding Gold worth Rs. 10,20,000/-. The USD/INR

is 48.2525. How many Lots of USD/INR will give him a proper
Hedge?
A. 2113
B. 30
C. 100
D. 21
E. I am not attempting this question

ANSWER: D

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In foreign exchange markets, the ______ currency is the first

currency in a currency pair.
A. Term
B. Base
C. Basis
D. Fix
E. I am not attempting this question
ANSWER: B

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The __________ is the only currency of a major European

country that belongs neither to the European Monetary Union
nor to the G-7 countries
A. Japanese Yen
B. US Dollar
C. GBP
D. Swiss Franc
E. I am not attempting this question
ANSWER: D

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An Indian Investor was highly bullish on S&P 500 so he buys

S&P500 worth $1,00,000/-.USD/INR was Rs.40/- After one year
the S&P500 went high giving him a profit of $10,000/-. The
USD/INR is Rs.44/- What is his profit on Portfolio and USD/INR
A. 10%, 0%
B. 0%, 10%
C. 10%, 10%
D. 10%, .1%
E. I am not attempting this question
ANSWER: C
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Banks authorized by the Reserve Bank of India under section 10

of the Foreign Exchange Management Act, 1999 as AD Category I bank are permitted to become trading and clearing members of
the currency futures segment of the recognized stock exchanges,
on their own account and on behalf of their clients, subject to
fulfilling the following minimum prudential requirements:

A. Minimum net worth of Rs. 500 crores.

B. Minimum CRAR of 10 per cent.
C. Net NPA should not exceed 3 per cent & Made net profit for
last 3 years
D. All of the Above
E. I am not attempting this question
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ANSWER: D

A TM's open position is arrived at as the summation of his

proprietary open position and ______' open positions, in the
contracts in which he has traded.
A. Clients
B. Proprietary
C. Clearing members
D. None of the above
E. I am not attempting this question
ANSWER: A

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Proprietary positions are calculated on _____ (buy - sell) for

each contract
A. Gross basis
B. Total Basis
C. Net basis
D. Settlement basis
E. I am not attempting this question
ANSWER: C

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