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FRA

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › FRA

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • March 4, 2022 at 7:36 pm #649840
    shaunak22
    Participant
    • Topics: 220
    • Replies: 41
    • ☆☆☆

    today is 1st january 20X6 company want to borrow 6 million on 31st march X6 and will repay tis debt on 31st december 20X6

    QUESTION – the appropriate type of fra in this situation would be a 3-9 FRA (true or false)

    ANSWER given in text- TRUE

    DOUBT – 3-9 fra means we are borrowing in 3rd month and repaying in 9th month the period covered under FRA is 6 months(Fra of 3-6 means that we would be repaying on 31sept) so isn’t the answer given in the text wrong ? since Sir here we are borrowing on 31st March and repaying on 31st December so that makes it 9 months So wouldn’t we require 3-12 FRA?

    March 5, 2022 at 7:53 am #649859
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54701
    • ☆☆☆☆☆

    I have no idea which text you are referring to.

    However for your example it is a 3-12 FRA as I explaining my free lectures.

    March 5, 2022 at 9:48 am #649874
    shaunak22
    Participant
    • Topics: 220
    • Replies: 41
    • ☆☆☆

    sir i am reffering to BPP text valid till june 2021 edition CHAPTER – interest rates activity 2

    March 5, 2022 at 4:30 pm #649921
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54701
    • ☆☆☆☆☆

    I do not have the BPP Study Text – only the Revision Kit.

    However what I wrote in my previous reply (and explain in my free lectures) is correct.

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