CFA 2026 Level I Economics Exchange Rates Free Quiz 1

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CFA 2026 Level I Economics Exchange Rates Free Quiz 1

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CFA 2026 Level I Economics Exchange Rates Free Quiz 1

Practice CFA 2026 Level I Economics MCQs from Exchange Rates. Get instant results with Explanation.

General5 MCQs

1. What is an exchange rate?

A. The price of one currency in terms of another.B. The price of a good in terms of currency.C. The rate of inflation in a country.D. The balance of trade.

2. What is the difference between a direct and an indirect exchange rate quote?

A. Direct is foreign currency price; indirect is domestic currency price.B. Direct is domestic currency price of foreign currency; indirect is foreign currency price of domestic currency.C. They are the same.D. Direct is for goods; indirect is for services.

3. What is the difference between a spot and a forward exchange rate?

A. Spot is for future delivery; forward is for immediate delivery.B. Forward is for immediate delivery; spot is for future delivery.C. Spot is for immediate delivery; forward is for future delivery.D. They are the same.

4. What is a currency appreciation?

A. DepreciationB. No change in valueC. Imports become more expensiveD. Currency increases in value; imports become cheaper

5. What is a currency depreciation?

A. Currency decreases in value; exports become cheaperB. Currency increases in valueC. No change in valueD. Exports become more expensive

General5 MCQs

6. What is purchasing power parity (PPP)?

A. Interest rate parityB. Purchasing power parity (PPP)C. Fisher effectD. Balance of payments identity

7. What is the difference between absolute and relative PPP?

A. Absolute PPP is about changes; relative PPP is about levels.B. Relative PPP is about levels; absolute PPP is about changes.C. Absolute PPP is about price levels; relative PPP is about inflation differentials.D. They are the same.

8. What is the real exchange rate?

A. Nominal exchange rateB. Interest rateC. Trade balanceD. Real exchange rate

9. What is the effect of an increase in the real exchange rate on trade?

A. Real appreciation; exports decreaseB. Real depreciation; exports increaseC. No effect on tradeD. Increases exports

10. What is the Big Mac Index?

A. Consumer price indexB. Big Mac IndexC. GDP deflatorD. Producer price index

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Conducting Body: CFA Institute

Frequency: 4 times a year (February, May, August, November) | Time: 135 Minutes

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⚡ Test Pattern (Total: 90 MCQs):

Alternative Investments: 8 MCQs
Corporate Issuers: 7 MCQs
Derivatives: 5 MCQs
Economics: 7 MCQs
Equity Investments: 12 MCQs
Ethics: 16 MCQs
Financial Statement Analysis: 11 MCQs
Fixed Income: 11 MCQs
Portfolio Management: 9 MCQs
Quant Methods: 6 MCQs

Merit Formula: -

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