【每日一练】ACCA F9（ Sept 2016）_ACCA

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet.
Each question is worth 2 marks.

Country X uses the dollar as its currency and country Y uses the dinar.
Country X’s expected inflation rate is 5% per year, compared to 2% per year in country Y. Country Y’s nominal interest rate is 4% per year and the current spot exchange rate between the two countries is 1·5000 dinar per $1.
According to the four-way equivalence model, which of the following statements is/are true?
(1) Country X’s nominal interest rate should be 7·06% per year
(2) The future (expected) spot rate after one year should be 1·4571 dinar per $1
(3) Country X’s real interest rate should be higher than that of country Y
A 1 only
B 1 and 2 only
C 2 and 3 only
D 1, 2 and 3

Answer:

B1: (1·04 x 1·05/1·02) – 1 = 7·06%
2: 1·5 dinar x 1·02/1·05 = 1·4571 dinar/$

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