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In Conversation, Interbank Foreign Exchange Traders Use a Shorthand Abbreviation

question 43

Multiple Choice

In conversation, interbank foreign exchange traders use a shorthand abbreviation in expressing spot currency quotations. Consider a $/£ bid-ask quote of $1.9072-$1.9077. The currency dealer would likely quote that as _____.

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Definitions:

Fiduciary

A person or organization that acts on behalf of another person or persons to manage assets, exhibiting a high standard of care, loyalty, and honesty.

Limited Partner

An investor in a partnership whose liability is limited to the amount of their investment, not involved in day-to-day management.

Management Powers

The authority vested in the directors, officers, or managers of an organization to make decisions and conduct the operations of the business.

Uniform Limited Partnership Act

A set of laws adopted by some states that govern the formation, operation, and dissolution of limited partnerships.

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