Last Updated on January 11, 2024 by cryptocreed
Want to start trading on Binance Future? Before you take a deep breath and start future trading on Binance you should know the answer to the Binane Future Quiz.
It is mandatory for all people whether you are experienced or noob traders you should know the answer to these questions. You have to answer all the Binance Future Quizs to start future trading.
Note: Future Trading involves huge risk and you may lose all your coins hence invest what you can afford to lose.
You need to access your Bianne account from your desktop account. It will be easy to attend Binance Future Quiz Answers.
Also Read: Binance Mining Pool Review
Things To Remember While Taking The Binance Future Quiz
- Learn and Earn page can be accessed from the Binance Future page.
- Try to use a desktop device.
- Questions will be not in the same format for everyone.
- You have to attend all questions
- If you fail to answer you can take the quiz again but after some time.
If you do not have an account on Binance then create one using our link to save 40% on transaction fees. For a better experience download the Binance app.
Binance Future Quiz Answers
Question 1: What is the maximum loss that may occur when engaging in futures trading?
Ans: All futures wallet balance
Question 2: When Futures balance is liquidated, what price is it based on?
Ans: Mark Price
Question 3: Are you aware that after the future is forcedly liquidated, in addition to the loss of the position, Insurance Clear Fee (= Position nominal value * Liquidation fee rate) will occur, which may decrease your futures wallet balance to zero?:
Ans: Yes, I am aware of the existence and calculation of the Insurance Clear Fee and the risks that may cause the balance to return to zero.
Question 4: There is a maximum number of orders for each future. Which action should I take?
Ans: Once the maximum quantity limit is reached, the order will fail, and an error will be reported, but I believe the order will be placed successfully if I try as many times as I can.
Question 5: Which of the following apply when using a stop-market order?
Ans: After the stop-profit and stop-loss price is triggered, the transaction will be executed immediately at the market price, and the transaction price may not be equal to the trigger price.
Question 6: Which of the following is correct to use Stop-Limit Order?
Ans: After the stop-profit and stop-loss price is triggered, the order will be placed at the limit price immediately, but the limit order may not necessarily be filled because the price has moved away.
Question 7:What kind of behaviour should I avoid when engaging in futures transactions?
Ans: Strong gambling, trading addictions, continuous losses, and blaming others.
Question 8: To continue trading on the futures, I have:
Ans: Understood the rules and risks of engaging in futures transactions, and I agree that any loss incurred in the transaction is my responsibility regardless of the platform.
Question 9: Due to network delays, system failures and other possible factors which may lead to suspension or deviation of Binance Futures service execution, Binance will use commercially reasonable efforts to ensure but not promise that Binance Futures service system runs effectively. Binance shall not be liable for the final execution results due to the above factors.
Question 10: Profit and loss (PnL) in futures are calculated by:
Ans: After closing a position, according to the opening price and closing price to calculate actual profit and loss.
Question 11: When you encounter a failure to trade constantly, you must:
Ans: Check the network and retain information for customer service.
Question 12: Futures fees include:
Ans: In addition to the order commission, positions also produce capital expenses and liquidation expenses.
Question 13: In Coin-margined futures trading, what kind of currency can be used as margin:
Ans: The currency of this future.
Question 14: In the event of a service disruption on Binance Futures, you may use the “close all positions” function to cancel all orders and close all open positions. However, due to unpredictable factors, the final execution result of this function might deviate from your expectations, and Binance shall not be liable for the final results.