CFA 2026 Level II Vignettes Economic Analysis Currency Analysis Free Quiz 2

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CFA 2026 Level II Vignettes Economic Analysis Currency Analysis Free Quiz 2

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CFA 2026 Level II Vignettes Economic Analysis Currency Analysis Free Quiz 2

Practice CFA 2026 Level II Vignettes Economic Analysis MCQs from Currency Analysis. Get instant results with Explanation.

General10 MCQs

1. Vignette 3: Currency Forecasting - Is the forward rate an unbiased predictor of the future spot rate?

A. The forward rate is always an accurate predictorB. The forward rate is a biased predictor of the future spot rateC. The forward rate is never used for forecastingD. The forward rate predicts the real exchange rate

2. What is the forward premium puzzle?

A. The fact that forward rates are biased predictorsB. The fact that PPP does not holdC. The fact that high-yield currencies tend to appreciate, contrary to UIPD. The fact that exchange rates are unpredictable

3. What are the main approaches to currency forecasting?

A. Fundamental models and technical analysisB. Only fundamental modelsC. Only technical analysisD. Machine learning only

4. What is the monetary model of exchange rates?

A. The model that links exchange rates to trade balancesB. The model that links exchange rates to fiscal policyC. The model that links exchange rates to GDPD. The model that links exchange rates to relative money supplies, incomes, and interest rates

5. What is the Dornbusch overshooting model?

A. Exchange rates move slowlyB. Exchange rates can overshoot their long-run equilibrium due to sticky pricesC. Exchange rates are always at equilibriumD. Exchange rates move exactly with money supply

General10 MCQs

6. Vignette 4: Exchange Rate Regimes - What is a currency board?

A. A floating exchange rate regimeB. A crawling pegC. A fixed exchange rate regime with full backing by reservesD. A regime with no exchange rate

7. What is a crawling peg exchange rate regime?

A. A fixed rate that adjusts gradually over time (crawl)B. A freely floating rateC. A fixed rate that never changesD. A rate that follows the market

8. What is dollarization?

A. A fixed exchange rate against the dollarB. A floating rate against the dollarC. A currency board with the dollarD. The adoption of the US dollar as the official currency

9. What is a managed float exchange rate regime?

A. A freely floating rate with no interventionB. A floating rate with occasional central bank interventionC. A fixed rate with no fluctuationD. A rate fixed to a basket of currencies

10. What are the trade-offs in choosing an exchange rate regime?

A. Fixed regimes are always betterB. Floating regimes are always betterC. There are trade-offs between stability and policy independenceD. The exchange rate regime does not matter

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Conducting Body: CFA Institute

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

Negative Marking: No

⚡ 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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