If the Value Date of a Forward USD/JPY Transaction Is

question 487

Multiple Choice

If the value date of a forward USD/JPY transaction is declared a holiday in either New York or Tokyo, the correct value date will be:

• A) the value date of the financial centre that is open
• B) the next business day of the financial centre which is closed
• C) the next business day when both New York and Tokyo are open
• D) the previous business day when both New York and Tokyo are open

---

Definitions:

Representative

Someone or something that serves as a typical example or is characteristic of a group, class, or set.

Demand Characteristics

Aspects of an experimental setting that lead participants to guess the purpose of the study and adjust their behavior to what they think the experiment demands.

Inadvertently Smiles

Smiling unintentionally or without conscious decision, often as a natural reaction to certain stimuli or thoughts.

Validity of Measure

Refers to the degree to which a test or instrument accurately measures what it intends to measure.