If You Can Exchange One U

question 131

Multiple Choice

If you can exchange one U.S. dollar for 100 Japanese yen, then 100 yen per dollar is the:

• A)direct spot rate.
• B)indirect quote.
• C)direct forward rate.
• D)direct quote.
• E)None of the above

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Definitions:

Best Interests

A standard considering the wellbeing and benefits of an individual, especially in legal and financial decisions affecting that person.

Fair Market Value

The price at which property would sell under usual market conditions, reflecting its value when both buyer and seller are reasonably knowledgeable and willing.

Self-dealing

Conduct by a fiduciary or a person in a position of trust that involves taking advantage of their position for personal gain at the expense of those to whom they owe a duty.

Agent

An individual or entity authorized to act on behalf of another person or entity, known as the principal, in transactions or legal matters.