Final Preschool Test
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Question 1 |
In the forums, what kind of person is the lurker?
From the article: One Comment Worth’s a 1000 Dollars: How to Prevent Binary Options Scams on Forums
A | Damn, that’s me… I promise I can change! Hint: I knew it, go make some posts let us know you are lurking in the shadows. |
B | A Hax0r Hint: That’s probably a Troll |
C | Someone who wants to disagree with everything Hint: Or a Hydralisk that morphs into a lurker, StarCraft fan anyone? |
D | The type that only reads the posts but never gives any opinions or asks questions on the discussed matter Hint: Or a Hydralisk that morphs into a lurker, StarCraft fan anyone? |
Question 2 |
What is a Put Option?
From the Article Binary Options Glossary
A | A specific Binary Option type, which is suitable for shorter time frame trading Hint: No, you are thinking of expiries, think price direction! |
B | A common type of Binary Options that expresses a traders belief that price will be higher at expiry than it was when he bought the option Hint: Nope, now what do we CALL that? Yes Call Option! |
C | A common type of Binary Options that expresses a traders belief that price will be lower at expiry than it was when he bought the option Hint: Put the Cookie down! Now!! 1 point for you! |
D | A specific Binary Option type, which is suitable for longer time frame trading Hint: Sorry, this question isn’t about duration, think direction! |
Question 3 |
What are the Roll Over and Close Now tools for Binary Options?
From the Article Roll Over and Close Now Tools: What They Are And How To Use Them?
A | “Roll Over” extends the expiry time of a Binary Option and “Close Now” allows you to close your trade without waiting for it to expire |
B | Roll over is something I say to my dog |
C | When I’m near my home coming from work I say I’m “Close now” |
Question 4 |
What is the main disadvantage of a big bonus?
From the Article 6 (Too) Common Mistakes Binary Options Traders Love Doing
A | There is no disadvantage! I have more money to trade. Yeaaah! Hint: Nah, wait till you hear the terms and conditions… kind of, ties your money |
B | It makes you trade on money you don't have Hint: Well, I see what you mean but not really true |
C | It ties my own deposited money to the platform Hint: Correct answer! That’s why you should always read the T & C |
D | I have to prove I am a good trader and only then the broker will reward me with a bonus Hint: Hehehe… is my laughter enough or do I have to spell it out for you? WRONG |
Question 5 |
When using UP/DOWN Binary Options, a Call option will be In the Money if:
From the Article Types of Binary Options – A Straightforward Explanation
A | At expiry time, price is higher than it was at the opening of the trade Hint: Good start! |
B | At expiry time, price is lower than it was at the opening of the trade Hint: Wrong, that’s a put option. |
C | At expiry time, price is between two predefined levels Hint: Noooo those are boundaries!!! |
D | It is bought for specific amount of money Hint: It is what now? Call remember? |
Question 6 |
When using Touch/No Touch options, your “Touch” option will be profitable if:
From the Article Types of Binary Options – A Straightforward Explanation
A | At expiry time, the target price is not reached |
B | At expiry time, price is lower than it was at the opening of the trade Hint: It’s Touch, not “Can’t touch this” |
C | The target price is reached more than twice until the expiry time Hint: Twice, really? How did you come up to that conclusion? |
D | The target price is reached at least one time until expiry time Hint: Yes! You certainly CAN touch this =). |
Question 7 |
What is the expiry for a 60 second Binary Option?
From the Article 6 Opinions, 60 Seconds – Expert Traders on 60 Seconds Options
A | 60 seconds from the time when I placed the trade |
B | 60 seconds before the end of the day |
C | 60 seconds after all my other options expire |
D | Could you stop with all the questions? What are you, The Police? |
Question 8 |
Is a very high bonus always a wise choice?
From the article Binary Options Bonus
A | Yes it is the best choice Hint: No, you can do better than this… not? |
B | It is a wise choice, because you will not lose your money if trades go wrong Hint: No, you can do better than this… not? |
C | No , because the trading volume needed for withdrawal increases a lot if I receive a big bonus Hint: You must’ve studied quite hard! |
D | No, because no one broker will allows you to withdraw the bonus Hint: No, you can do better than this… not? |
Question 9 |
In the article about avoiding signal service providers scam you learned that…
From the article: The Five Commandments You Need to Know in Order to Avoid Signal Service Providers Scams
A | Social trading is better and CommuniTraders is the way to go |
B | Robots are the best and most accurate traders Hint: If you think so read the article ones again! |
C | You are better off trusting signal services to make decisions for you Hint: If you think so read the article ones again! |
D | Free signal services are often the worse kind |
Question 10 |
What is the meaning of “Out of the Money”?
From the Article What are Binary Options
A | Trader’s prediction is right and all the money goes to the trader Hint: No, that is In the Money, try again! |
B | It means that the option is not fully leveraged and could not be traded Hint: Wrong, think in terms of wins and losses! |
C | The trader predicted wrong the outcome and he loses the entire amount invested in that particular trade Hint: True! Good thing we have money management right? |
D | It means that the trader hit margin call Hint: I think you are watching too many movies, try again! |
Question 11 |
What’s a forum “wannabe”?
From the Article One Comment Worth’s a 1000 Dollars: How to Prevent Binary Options Scams on Forums
A | Don’t know, but I like that Spice Girls single |
B | A market guru. I will always follow the recommendations of this kind of guys |
C | A dude who thinks he is a trader just because he read a couple of books on trading and wants everybody to acknowledge him as a great trader. In fact he is inexperienced and not very bright |
D | It’s me a couple of years ago |
Question 12 |
What is a signal provider?
From the Article Binary Options Signals
A | An old shaman that uses fire to emit smoke signals Hint: Sigh… Did you take the test to mess around? |
B | A Binary Options expert or an automated robot specialized in Binary Options trading that provides traders with trade suggestions called signals Hint: With your knowledge, I don’t think you will need any signals! |
C | A broker who provide specific signals to his clients Hint: Could be but that wasn’t the point. |
D | A man who is a sales person and market brokers services Hint: Getting things mixed up now aren’t we? |
Question 13 |
What’s the lesson learned from this article?
From the Article Trader’s Tales – The Sucker Always Lose
A | Learn to have patience Hint: Fair enough but did you read all of the answers first? |
B | Educate yourself before investing Hint: Fair enough but did you read all of the answers first? |
C | Don’t just play with money Hint: Fair enough but did you read all of the answers first? |
D | All are true Hint: You seem prepared! |
Question 14 |
What are Binary Options?
From the Article What are Binary Options
A | Binary Options are new generation standard options, which pays a specific amount depending of the price of the underlying asset at the expiry time. |
B | An all-or-nothing type of option which means that if the trader was right in his prediction he will receive the full payout and if he was wrong, he loses the entire amount invested in that trade. Nowadays, some brokers offer a small refund even if the trader was wrong. |
C | Binary Options are scam product offered to steal money from the clients |
D | Binary Options are options that are traded on the electronic markets |
Question 15 |
Should I invest with a broker that is not regulated or run away as fast as I can?
From the article Binary Options Regulation
A | You should run away fast, because this broker will steal your money Hint: Are you just randomly selecting answers? Come on try again. |
B | Forget about regulations, you need to know personally the CEO of the company, that’s it Hint: Yeah better start packing then, need to move to Cyprus. |
C | All unregulated brokers are scam Hint: Are you just randomly selecting answers? Come on try again. |
D | Regulation is a very important aspect, and it certainly adds extra confidence but it is not a must and some honest brokers are not regulated yet because Binary Options as we know them are still in the early stages. If a broker is not regulated, that alone doesn’t constitute a scam. Hint: Of course! You are steps away from graduation buddy. |
Question 16 |
Do all trades suggested by the trade signal provider are In the Money at expiry time?
From the Article Binary Options Signals
A | No, this is not the Holy Grail, but it gives the trader a certain direction |
B | Yes, every single trade is in the Money, when the provider is really good |
C | Not at all. Signal providers only guess and their trades are mostly Out of the Money |
D | All signal providers are scam |
Question 17 |
Why should you practice on a demo account before trading live?
From the article: Binary Options Brokers Most Stupidest Reasons for Not Offering a Demo Account
A | To learn how the broker’s platform works Hint: Only partially correct! |
B | To test my strategy Hint: Only partially correct! |
C | I shouldn’t, my account manager is better than a demo account Hint: Well, if he pays for your losses then be my guest… |
D | Both test platform and strategy are correct. Hint: That’s true and very important! Keep it up. |
Question 18 |
What is a Call Option?
From the Article Binary Options Glossary
A | A common type of Binary Options that expresses a traders belief that price will be higher at expiry than it was when he bought the option |
B | A common type of Binary Options that expresses a traders belief that price will be lower at expiry than it was when he bought the option |
C | A specific Binary Option type, which is suitable for longer time frame trading |
D | A specific Binary Option type, which is suitable for shorter time frame trading |
Question 19 |
What is a Binary Options Demo account?
From the Article Free Binary Options Demo Account
A | An account provided by the broker where the trader can experience real market trading conditions but using “virtual money” (demo money) Hint: You’re good, maybe time you go live? |
B | It is a real account Hint: The market conditions are real, not the money, try again |
C | An account provided by the broker with some special features Hint: But what exactly is special here? Think virtual balance! |
D | A video that shows you how to trade Hint: No, remember we are talking about accounts! |
Question 20 |
When using IN/OUT options, your “IN” option will be profitable if:
From the Article Types of Binary Options – A Straightforward Explanation
A | At expiry time, the price is inside a predefined channel Hint: You know your options! Continue to the next questions |
B | At expiry time, price is outside of two predefined levels Hint: No, think inside the box! |
C | The target price is reached at least one time until expiry time Hint: Those are called Touch Options, try again |
D | At expiry time, price is higher than it was at the opening of the trade Hint: Those are called Call Options, think channels! |
Question 21 |
What is the meaning of “In the Money”?
From the Article What are Binary Options
A | Trader’s prediction came true and upon expiration he receives the full payout Hint: Great! Now that’s a good start, let’s move on! |
B | Trader’s prediction is false and all the money goes to the broker Hint: We are just getting started… Sure you want to continue? |
C | It means that the option is fully leveraged with the traders money Hint: We are just getting started… Sure you want to continue? |
D | It means that the trader have money in his account Hint: We are just getting started… Sure you want to continue? |
Question 22 |
What parameters don’t apply to the Binary Option market?
From the Article The Risk Management Calculator – The ABC of Binary Options
A | Lot size |
B | Pip value |
C | Stop Loss |
D | All of the above |
Question 23 |
What is Paper Trading?
From the Article Paper Trading – One Step Closer to Trading for a Living
A | Buying and selling paper on the Intergalactic Paper Exchange and hoping to get rich Hint: Why would they need paper when they have holograms! |
B | A way of testing your strategies without investing money. It is similar to Demo trading Hint: Right! When you don’t have access to a demo, you can paper trade! |
C | Exchanging paper currency for metal currency Hint: Which universe was that again? Tyr again! |
D | The new Binary options Trading Style Hint: No, no new styles invented for binaries yet. Testing strategies it is! |
Question 24 |
What influences the stock indices?
From the Article The Four Fathers of Binaries–Indices
A | Binary Options |
B | The stock price of the companies in it. |
C | My dog’s tail position: if it’s up, indices will go up and if it’s down, they will probably fall |
D | GDP of the country |
Question 25 |
Is OptionBot trading software or an indicator?
From the Article OptionBot Software – The Account Terminator
A | Software |
B | Indicator |
C | It’s a battery operated robot |
D | neither Indicator nor Software |
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