Test “What is a Pip in Forex, and why is it Important for a Trader?”

Test: What is a Pip in Forex, and why is it important for a Trader?

1 / 5

What is a pip?

a) A unit of price

b) A unit of profit

c) A unit of efficiency

d) A unit of volatility

2 / 5

Which of the following prices ends with a pip?

a) 1.6554

b) 0.99078

c) 109.45

3 / 5

Which of the following prices ends with a tick?

a) 1.6554

b) 0.99078

c) 109.45

4 / 5

What is the purpose of a trader's calculator?

a) To calculate the cost of one pip

b) To calculate the profit from a trade

c) To calculate the loss from a trade

5 / 5

What could be the benefit of a calculator if the trading platform itself calculates the point cost?

a) For trading plans

b) The trading platform does not always calculate correctly

c) For chart analysis

d) For fundamental analysis

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