A Bank Dealing in Foreign Currency Tells You That the Foreign

question 26

Multiple Choice

A bank dealing in foreign currency tells you that the foreign currency will buy you $.80 US dollars.The bank has given you

• A)​a direct quote.
• B)​an indirect quote.
• C)​the official (fixed) rate.
• D)​a forward rate.

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Definitions:

Mental Age

A concept in developmental psychology that represents the cognitive ability of an individual in comparison to others of a certain chronological age.

Two Years

A time period equivalent to 24 months or approximately 730 days.

Intelligence Quotient

A measure of a person's cognitive abilities and potential, compared to the population, often calculated through standardized testing.

Stern Scale

A measurement or rating system used in a specific contextual framework, which requires further detail to define adequately.