Week 1 – Day 3: Quiz
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Question 1 of 20
1. Question
Which of the following is the smallest price movement that a currency pair can make?
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Question 2 of 20
2. Question
Which of these are types of lots in Forex trading?
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Question 3 of 20
3. Question
What does the term “Pip” stand for in Forex trading?
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Question 4 of 20
4. Question
Arrange the following in terms of size, starting with the smallest:
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Micro Lot
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Standard Lot
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Mini Lot
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Question 5 of 20
5. Question
Match the concept with its definition.
Sort elements
- The price at which you can sell a currency pair.
- The price at which you can buy a currency pair.
- The difference between the Bid and Ask prices.
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Bid
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Ask
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Spread
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Question 6 of 20
6. Question
In the currency pair EUR/USD, EUR is the _______ currency, and USD is the _______ currency.
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In the currency pair EUR/USD, EUR is the currency, and USD is the currency.
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Question 7 of 20
7. Question
If you expect the Euro to weaken against the US Dollar, what action would you take on the EUR/USD pair?
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Question 8 of 20
8. Question
What factors should a trader consider when using leverage?
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Question 9 of 20
9. Question
Name the term that refers to the price at which you can sell a currency pair.
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Question 10 of 20
10. Question
Place these steps in the correct order for executing a Forex trade:
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Decide on the size of the position
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Monitor and close the position
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Set a stop loss and take profit levels
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Analyze the market and choose a currency pair
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Question 11 of 20
11. Question
Which of the following best describes leverage?
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Question 12 of 20
12. Question
If the EUR/USD pair is quoted as 1.1200/1.1203, the Bid price is ________, and the Ask price is ________.
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If the EUR/USD pair is quoted as 1.1200/1.1203, the Bid price is , and the Ask price is .
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Question 13 of 20
13. Question
Match the type of lot with its unit size:
Sort elements
- 100,000 units
- 10,000 units
- 1,000 units
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Standard Lot
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Mini Lot
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Micro Lot
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Question 14 of 20
14. Question
What is the purpose of a “Spread” in Forex trading?
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Question 15 of 20
15. Question
Which of the following is the first currency listed in a currency pair?
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Question 16 of 20
16. Question
Which terms are crucial in understanding the mechanics of a trade in Forex?
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Question 17 of 20
17. Question
A leverage of 50:1 means a trader could control a $50,000 position with just $______.
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A leverage of 50:1 means a trader could control a $50,000 position with just $ .
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Question 18 of 20
18. Question
Arrange the following from highest risk to lowest risk:
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Trading with a tight stop loss
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Trading with high leverage
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Trading with no leverage
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Question 19 of 20
19. Question
Sort elements
- The size of a trade in Forex.
- The smallest price movement in Forex.
- A tool that allows traders to magnify their exposure to the market.
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Lot
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Pip
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Leverage
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Question 20 of 20
20. Question
In a high-volatility market, what can a wide spread indicate? Select all that apply.
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