11 FRESHMAN Forex Exam 1 / 14 It is best to focus on no more than three specific currency pairs when trading because the world’s currency rates are fixed. True False 2 / 14 Even though FOREX has a high-profit potential, There is low risk There is no risk Risk management is necessary There is still high potential for losses Both C & D 3 / 14 Which of the following is NOT a FOREX trading session? Australia New York Canada Asia London 4 / 14 The cost of trading FOREX comes from: The spread Exchange fees Commission Interest None of the above 5 / 14 Opportunity to profit in FOREX exists when: A pair goes up A pair goes down Trading volume is high All of the above None of the above 6 / 14 When are FOREX markets open for trading? 24 hours a day, 7 days a week 24 hours a day, 5 days a week 12 hours a day, 7 days a week 12 hours a day, 5 days a week None of the above 7 / 14 In FOREX trading, the “spread” is: The amount a currency goes up The amount a currency goes down The difference between the bid/ask price The amount of risk in a given trade 8 / 14 Pipettes is the _____ digit after the decimal point. 3 5 Both A & B None of the Above 9 / 14 A lot size is the total number of currency units being exchange per PIP. True False 10 / 14 What does PIP mean Points in Percentage Price in Percentage Points in Pipeline Post in Profit 11 / 14 What type of account is the safest account to open for a beginning trader? LIVE ACCOUNT DEMO ACCOUNT HIGH BALANCE ACCOUNT NONE OF THE ABOVE 12 / 14 What does a trader do in a "BEARISH" market? Place a Sell Order Place a Buy Order Do Not Enter the Market None of the Above 13 / 14 What does a trader do in a "BULLISH" market? Place a Sell Order Place a Buy Order Do Not Enter the Market None of the Above 14 / 14 Which of the following are categorized lot size? Micro Lot Mini Lot Standard Lot All of the Above Your score is The average score is 60% 0% Restart quiz
