1.QUOTED F/X RATES DO NOT VARY AMONG LOCATIONS. TRUE OR FALSE

2.PARTICIPANTS IN F/X MARKET CAN CAPITALIZE ON THE DISCREPANCY TRUE OR FALSE

3.THE PROCESS OF BUYING A CURRENCY WHERE IT IS PRICED LOWER AND THEN IMMEDIATELY SELLING IT AT ANOTHER LOCATION WHERE IT IS PRICED HIGHER IS KNOWN AS LOCATIONAL ARBITRAGE. TRUE OR FALSE

4.LOCATIONAL ARBITRAGE IS TYPICALLY CONDUCTED BY INDIVIDUALS.

LOCATIONAL ARBITRAGE IS TYPICALLY CONDUCTED BY BANKS OR OTHER F/X DEALERS WHOSE COMPUTERS CAN CONTINUOUSLY MONITOR QUOTES PROVIDED BY OTHER BANKS. 16.THE CONCEPT OF LOCATIONAL ARBITRAGE IS RELEVANT BECAUSE IT EXPLAINS WHY F/X RATE QUOTATIONS AMONG BANKS AT DIFFERENT LOCATIONS WILL SELDOM DIFFER BY A SIGNIFICANT AMOUNT TRUE OR FALSE

5.TRIANGULAR ARBITRAGE DEALS WITH SPOT RATES. TRUE OR FALSE