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Basic Question 4 of 12
A direct quote is usually made in terms of the amount of ______.
B. local currency required to purchase one unit of foreign currency
C. local currency that the U.S. dollar purchases
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
User Contributed Comments 1
| User | Comment |
|---|---|
| vatsal92 | Note: - Numerator = Domestic/Price, Denominator = Foreign/Base |
I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
describe the foreign exchange market, including its functions and participants, distinguish between nominal and real exchange rates, and calculate and interpret the percentage change in a currency relative to another currency
CFA® 2025 Level I Curriculum, Volume 1, Module 7.