1. Is a tick size measured in currencies? What is the use of tick value and do we need to use it in the exam? 2. When the question says contract prices, do they means futures prices? 3. What does hedging efficiency mean?
Apart from Q3, this is all explained in my free lectures, and you cannot expect me to type out my lectures here 🙂
Q3 is not asked these days, it was asked a long time ago by an examiner who has now been replaced twice. It is rather meaningless and is now not asked, which is why I no longer cover it in my lectures.