1. Discuss government securities and their features 2. Describe the tender system used for marketing treasury bonds. What are advantages and disadvantages of this system. 3. Discuss monetary policy. How it impacts on system liquidity? 4. Discuss the payment and clearing system. What is Real Time Gross Settlement (RTGS)? 5. Within the macroeconomic context of determination of interest rates there are three distinct effects of a change in monetary policy. Explain and give examples of each of three effects 6. Explain the term "Risk-free rate of interest". Why is the existence of risk-free rate of interest important when examining the level of interest rates generallyin the financial markets? 7. Describe the functions, structure and operation of the international foreign exchange markets. 8. Distinguish between speculative and arbitrage transactions in foreign exchange market. Describe arbitrage transactions using the example of a triangular arbitrage. 9. Discuss spot and forward transactions and quotations. 10. Within concept of floating exchange rate, Discuss the demand for a currency and its supply and the resultant Equilibrium Exchange Rate