Binance Futures Quiz
This is the Binance futures quiz answers,
which will help you learn more about future trading.
It is common for new users to have a lot of questions when they
first get into futures, options, or leverage trading on Binance.
Check the answers below to find it out.
Binance Futures Quiz Answers
1.Which of the following action should you
take when you fail to place an order?
Ans.- Check
your network, save screenshots or related information, and ask for help from
customer service.
2.There is a maximum size limit for each
order. Which action should you take when you receive this type of error
message?
Ans.- Divide
the large order into several smaller orders.
3.Which of the following description of
Stop-Market Order is correct?
Ans.- The
order will be executed at the market price once the price hits the trigger
price. But the executed price may not be equal to the trigger price.
4.Which of the following description of the
Stop-Limit Order is correct?
Ans.- The
order will be placed at the limit price once the price hits the trigger price.
But the limit order may not necessarily be filled as the latest market price
may have moved away from the limit price.
5.Which of the following description of Profit
and Loss (PnL) is correct?
Ans.- Realized
PnL is calculated based on the opening price and the closing price after a
position is closed.
6.What is the maximum loss that may occur in
futures trading?
Ans.- All
the money in my futures wallet
7.Which coin can be used as margin for a
Coin-margined futures?
Ans.- The
base asset of this future. For example, I can use BTC as margin when I trade
BTCUSD future.
8.When a futures position is liquidated, what
price is it based on?
Ans.- Mark Price
9.Futures fees include:
Ans.- Commissions,
Insurance Clear Fees and Funding Fees while holding positions.
10.Are you aware that after a futures position
is liquidated, in addition to the loss of the position, an Insurance Clear Fee
will occur, which may decrease your futures wallet balance to zero? p.s.
Insurance Clear Fee = Position nominal value * Liquidation fee rate
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.
11.What kind of behavior should I avoid when
engaging in futures trading?
Ans.- Strong
gambling, trading addictions, continuous losses, and blaming others.
12.To continue trading on futures, I have:
Ans.- Understood the
rules and risks of futures trading, and I agree that any loss incurred during
futures trading is my own responsibility regardless of the platform.
13.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.
Ans.- Agree
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.
Ans.- Agree