FRM 2026 Part I Financial Markets and Products Futures Free Quiz 1

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FRM 2026 Part I Financial Markets and Products Futures Free Quiz 1

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FRM 2026 Part I Financial Markets and Products Futures Free Quiz 1

Practice FRM 2026 Part I Financial Markets and Products MCQs from Futures. Get instant results with Explanation.

General10 MCQs

1. What is a futures contract?

A. Futures are customized OTC contractsB. Futures are standardized exchange-traded contractsC. Futures are not marked-to-marketD. Futures are the same as forward contracts

2. What can be the underlying asset of a futures contract?

A. The underlying asset of a futures contract is always a commodityB. The underlying asset of a futures contract is always a stockC. The underlying asset of a futures contract can be a commodity, financial instrument, currency, or interest rateD. The underlying asset is not important for futures

3. What is the role of a futures exchange?

A. Futures exchanges provide standardization, liquidity, and clearingB. Futures exchanges are not regulatedC. Futures exchanges are only for commoditiesD. Futures exchanges are the same as OTC markets

4. What is the role of the clearinghouse in futures?

A. The clearinghouse is not involved in futures tradingB. The clearinghouse increases counterparty riskC. The clearinghouse is the same as the exchangeD. The clearinghouse acts as the central counterparty, eliminating counterparty risk

5. What is the difference between initial margin and maintenance margin?

A. Initial margin is the same as maintenance marginB. Initial margin is the deposit to open a position; maintenance margin is the minimum requiredC. Maintenance margin is higher than initial marginD. Margin calls are not used in futures

General10 MCQs

6. What is a margin call in futures?

A. A margin call is when the account exceeds the initial marginB. A margin call is optionalC. A margin call requires additional funds when the account falls below maintenance marginD. A margin call is the same as a variation margin

7. What is mark-to-market in futures?

A. Mark-to-market involves daily settlement of gains and lossesB. Mark-to-market is only for the initial marginC. Mark-to-market is the same as a margin callD. Mark-to-market is optional in futures trading

8. What is the daily settlement price in futures?

A. The daily settlement price is the opening priceB. The daily settlement price is the same as the spot priceC. The daily settlement price is not used in futuresD. The daily settlement price is used for mark-to-market and determining margin adjustments

9. What is the payoff of a long futures position?

A. A long futures position benefits from a price decreaseB. A long futures position benefits from a price increaseC. A short futures position benefits from a price increaseD. Long and short positions have the same payoff

10. What is basis and basis risk in futures?

A. Basis is the difference between two futures contractsB. Basis risk is not a concern for hedgersC. Basis is the difference between spot and futures prices; basis risk is the uncertainty of this differenceD. Basis is always zero

📋 FRM - Test Online Practice Quizzes

FRM

Conducting Body: Global Association of Risk Professionals GARP

Frequency: three times a year: May, August, and November | Time: 240 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 100 MCQs):

Foundations of Risk Management: 25 MCQs
Quantitative Analysis: 25 MCQs
Financial Markets and Products: 25 MCQs
Valuation and Risk Models: 25 MCQs

Merit Formula: -

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