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Test

Forward Contract

Dinesh Jain 11 preguntas

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Preguntas del test (11)

  1. 1Spot rate = Rs.40/USD; Forward rate = Rs.45/USD Upfront premium to be paid for hedging = 2%. Tenor of contract = 6 months. Rate of interest = 12% per annum. How much is the effective cover rate for an importer?
    1. ARs.40.80
    2. BRs.45.90
    3. C40.848
    4. D45.954
    5. E45.948
  2. 2Forward rate = USD 1.43/GBP; Expected spot rate = USD 1.41/GBP. Should we take a forward cover for dollar receivables?
    1. AWe should take forward contract
    2. BWe should leave it open
    3. CIndifferent
  3. 3Cover rate of USD receivable = Rs.45/USD
    Actual spot rate on maturity date = Rs.46/USD
    Transaction amount = USD 1,00,000.
    How much is the profit/loss by taking forward contract?
    1. ALoss of 1,00,000
    2. BProfit of 1,00,000
    3. CNo profit/loss
  4. 4Cover rate of USD payable = Rs.45/USD
    Actual spot rate on maturity date = Rs.46/USD
    Transaction amount = USD 1,00,000.
    How much is the profit/loss by taking forward contract?
    1. AProfit of Rs.1,00,000
    2. BLoss of Rs.1,00,000
    3. CNo profit/loss
  5. 5A company has imported goods worth 1,00,000 USD. Spot rate is INR 74/USD and forward rate is INR 73.50/USD. Current interest rates in India are higher than USA. What is your advise to the company on taking forward contract?
    1. AWe should take forward contract
    2. BWe should keep the exposure open
    3. CWe are indifferent on taking forward cover
  6. 6The company has submitted a 60 days bill of USD 5,00,000 to bank. Transit period of shipment is of 20 days. Forward rates available with the bank are of 1,2 and 3 months. What is the relevant exchange rate for clearance of bill?
    1. A1 month forward rate
    2. B2 month forward rate
    3. C3 month forward rate
  7. 7Current spot rate is INR 50/USD. 6-month Forward rate is INR 55/USD. The company took a forward contract for 1,00,000 USD payable. Compute the amount of profit/loss if INR depreciated by 4 percent?
    (Please work with four decimals)
    1. AProfit of Rs.3,00,000
    2. BLoss of Rs.3,00,000
    3. CProfit of Rs.2,91,667
    4. DLoss of Rs.2,91,667
    5. ENone of the answers
  8. 8An Indian company has imported goods from Japan for 36 lacs YEN. The amount is equivalent to INR 10 lacs today. It is anticipated that exchange rate will change by 10 percent over the medium term. Indian company promises to take appropriate action in foreign exchange market in order to protect YEN payments. What is the expected exchange rate after 3 months?
    1. AYEN 3.60/INR
    2. BYEN 3.24/INR
    3. CYEN 3.96/INR
  9. 9A has imported goods worth 1 lac euros payable on 31st December and entered into forward contract when exchange rate was INR 66-68/EURO. Today is November 30 and the importer wants to honor contract today. Spot rate is INR 65.50-66.50/EURO and one month forward contract is INR 67.50-68/EURO.
    How much would be the total outflow by the importer?
    1. ARs.69,00,000
    2. BRs.68,00,000
    3. CRs.66,50,000
    4. DRs.67,50,000
    5. ERs.67,00,000
  10. 10A customer with whom the Bank had entered into 3 months’ forward purchase contract for Swiss France 10,000 at the rate of Rs. 27.25 comes to the bank after 2 months and request cancellation of the contract.

    One-month forward rate on date of cancellation is INR 27.45-27.52 per swiss franc. How much is the cancellation gain/loss?
    1. ALoss of Rs.2700
    2. BProfit of Rs.2700
    3. CLoss of Rs.2000
    4. DProfit of Rs.2000

Información

Descripción
Chartered Accountancy Strategic Financial Management Test sobre Forward Contract, creado por Dinesh Jain el 01/11/2019.
Idioma
English
Visitas
20
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