1YM 1QComprehensive Exam

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The purpose of this quiz is to gauge the retained knowledge of the FAPWINNER One Year Mentoring Group after the first 3 months of study.

Questions and Answers

1.

What is the Forex market?
- A.
  
  It is the place to buy and sell the currency pairs of participating world countries.
- B.
  
  It is a place to buy and sell stocks.
- C.
  
  It is a place to buy futures contracts.
- D.
  
  It is a place to buy and sell options.
- E.
  
  It is a place to buy and sell EFTs.
Correct Answer
A. It is the place to buy and sell the currency pairs of participating world countries.
2.

EURUSD: Which portion is the QUOTE pair, and which portion is the BASE pair?
3.

The Forex market is located on one main exchange.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False
4.

How many different FOREX trading exchanges exist?
- A.
  
  One
- B.
  
  Two
- C.
  
  Three
- D.
  
  Four
- E.
  
  I did not know there was a FOREX exchange
Correct Answer
D. Four
5.

Please list the exchange(s) and the trading time(s). All times must be EST.
6.

When you BUY a FOREX pair, you _____________ one and immediately___________ the other.

Correct Answer
You BUY one, and SELL
7.

What does it mean to be bullish?
8.

What does it mean to be bearish?
9.

Bulls make money, bears make money, pigs get ________________.

Correct Answer
10.

Define leverage.
11.

What is the amount needed to properly trade a Standard account?
- A.
  
  $1,000
- B.
  
  $10,000
- C.
  
  $100,000
- D.
  
  Who know?
- E.
  
  Could you repeat the question again....?
Correct Answer
B. $10,000
12.

What is MARGIN?
- A.
  
  Margin is the amount of money that my broker removes from my trading account on a per lot basis, and gets returned to me after the trade is closed.
- B.
  
  It goes on toast and is high in poly unsaturated fats and cholesterol.
Correct Answer
A. Margin is the amount of money that my broker removes from my trading account on a per lot basis, and gets returned to me after the trade is closed.
13.

What is the correct MAXIMUM leverage for a Mini account? Check all that apply.
- A.
  
  1:200
- B.
  
  200:1
- C.
  
  100:1
- D.
  
  1:100
- E.
  
  1:500
Correct Answer(s)
A. 1:200
B. 200:1
14.

What is the MAXIMUM leverage for a STANDARD account? Check all that apply.
- A.
  
  1:100
- B.
  
  100:1
- C.
  
  1:200
- D.
  
  200:1
- E.
  
  500:1
Correct Answer(s)
A. 1:100
B. 100:1
15.

What are the 2 most popular chart types? Check all that apply.
- A.
  
  Bar
- B.
  
  Candle
- C.
  
  Point and figure
- D.
  
  Line
- E.
  
  Could you repeat the question?
Correct Answer(s)
A. Bar
B. Candle
16.

A bar chart looks like a __________ with two _______________

Correct Answer(s)
Stick, shelves
17.

How many data points does a bar chart have?
- A.
  
  One
- B.
  
  Two
- C.
  
  Three
- D.
  
  Four
- E.
  
  Five
Correct Answer
D. Four
18.

A UP bar means that the bar closed lower than the open.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False
19.

A down bar closed lower than the open.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
20.

A candle and a bar are both read the same way.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False
21.

Please define a pivot.
22.

A pivot is made up of _________ candles.

Correct Answer
Three
23.

How many types of pivots are there?
- A.
  
  One
- B.
  
  Two
- C.
  
  Three
- D.
  
  Four
Correct Answer
B. Two
24.

Please name the pivot types.
25.

Please describe each of the pivot types. Please include:1. the name2. number of candles3. what qualifying characteristic of it4. whether it is bullish or bearish.
26.

How many candle patterns have we learned?
- A.
  
  8
- B.
  
  16
- C.
  
  4
- D.
  
  5
Correct Answer
A. 8
27.

Name all of the patterns that you have been taught.
28.

What is a doji?
29.

How many Double type patterns have you been taught?
30.

How many failure swing type patterns have you been taught?
31.

How many candles are in a railroad track pattern?
- A.
  
  2
- B.
  
  3
- C.
  
  4
Correct Answer
A. 2
32.

A Doji is:
- A.
  
  Bullish
- B.
  
  Bearish
- C.
  
  Neutral
Correct Answer
C. Neutral
33.

A double top has a minimum of __________ candles.

Correct Answer
2
34.

A double bottom is a bearish pattern
- A.
  
  True
- B.
  
  False
Correct Answer
B. False
35.

A swing consists of two pivot points.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
36.

How many pivots does a failure swing have?
- A.
  
  Two
- B.
  
  Three
- C.
  
  Four
- D.
  
  It can have an unlimited number
- E.
  
  Huh?
Correct Answer
B. Three
37.

What does the word FOREX stand for?
38.

What is traded on the FOREX market?
- A.
  
  Coins
- B.
  
  Currencies
- C.
  
  Stocks
- D.
  
  Mutual funds
- E.
  
  Currency pairs
Correct Answer
E. Currency pairs
39.

In EURUSD, The ______________ is the _________ pair, and ________ is the _______pair.

Correct Answer
eur, quote, usd, base
40.

The EURUSD and the USDJPY usually move in the same direction at the same time.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False
41.

When you buy or sell in the FOREX market, how many currencies are you actually trading at one time?
- A.
  
  One
- B.
  
  Two
Correct Answer
B. Two
42.

There are two ways to analyze the markets: There is Technical Analysis and _________________ analysis.

Correct Answer
Fundamental
43.

How many News Reports did Charles suggest you learn?
- A.
  
  2
- B.
  
  4
- C.
  
  6
- D.
  
  8
Correct Answer
D. 8
44.

Please name all of the news reports that you should know.
45.

Please give a simple 1 sentence summary of what the NFP report means
46.

The NFP report states that 800K jobs were lost last month. This is greater than what analysts expected. What will the dollar do?
- A.
  
  It should go UP
- B.
  
  It should go down
Correct Answer
B. It should go down
47.

Summarize the ADP Emloyment report means.
48.

Summarize the Durable Goods means.
49.

Summarize what the Retail Spending report means
50.

Summarize what the Producer Price Index report means

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Current Version
Jan 03, 2013

Quiz Edited by
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Aug 11, 2009

Quiz Created by
Fapwinner1

1ym 1qcomprehensive Exam

What is the Forex market?

EURUSD: Which portion is the QUOTE pair, and which portion is the BASE pair?

The Forex market is located on one main exchange.

How many different FOREX trading exchanges exist?

Please list the exchange(s) and the trading time(s). All times must be EST.

When you BUY a FOREX pair, you _____________ one and immediately___________ the other.

What does it mean to be bullish?

What does it mean to be bearish?

Bulls make money, bears make money, pigs get ________________.

Define leverage.

What is the amount needed to properly trade a Standard account?

What is MARGIN?

What is the correct MAXIMUM leverage for a Mini account? Check all that apply.

What is the MAXIMUM leverage for a STANDARD account? Check all that apply.

What are the 2 most popular chart types? Check all that apply.

A bar chart looks like a __________ with two _______________

How many data points does a bar chart have?

A UP bar means that the bar closed lower than the open.

A down bar closed lower than the open.

A candle and a bar are both read the same way.

Please define a pivot.

A pivot is made up of _________ candles.

How many types of pivots are there?

Please name the pivot types.

Please describe each of the pivot types. Please include:1. the name2. number of candles3. what qualifying characteristic of it4. whether it is bullish or bearish.

How many candle patterns have we learned?

Name all of the patterns that you have been taught.

What is a doji?

How many Double type patterns have you been taught?

How many failure swing type patterns have you been taught?

How many candles are in a railroad track pattern?

A Doji is:

A double top has a minimum of __________ candles.

A double bottom is a bearish pattern

A swing consists of two pivot points.

How many pivots does a failure swing have?

What does the word FOREX stand for?

What is traded on the FOREX market?

In EURUSD, The ______________ is the _________ pair, and ________ is the _______pair.

The EURUSD and the USDJPY usually move in the same direction at the same time.

When you buy or sell in the FOREX market, how many currencies are you actually trading at one time?

There are two ways to analyze the markets: There is Technical Analysis and _________________ analysis.

How many News Reports did Charles suggest you learn?

Please name all of the news reports that you should know.

Please give a simple 1 sentence summary of what the NFP report means

The NFP report states that 800K jobs were lost last month. This is greater than what analysts expected. What will the dollar do?

Summarize the ADP Emloyment report means.

Summarize the Durable Goods means.

Summarize what the Retail Spending report means

Summarize what the Producer Price Index report means

When you BUY a FOREX pair, you ___ one and immediately_ the other.

A bar chart looks like a with two _____

In EURUSD, The __________ is the _ pair, and is the ___pair.