Are you looking for answer Binance Margin Quiz answers?
If your answer is YES, look no further as we have got you covered.
There are tons of users who have been having a hard time opening a Margin Trading account on Binance as it can’t be opened or enabled without completing the Margin Quiz.
Once you successfully complete the Binance Margin Quiz, you will be able to transfer funds to your account and start trading.
To make your work easier, we have compiled a list of all Binance Margin quiz questions and their correct answers.
If you read this post till the end, you will get answers to each and every question asked in the Margin Quiz.
Before I provide correct answers to the Margin quiz, let’s learn how to participate in it.
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How to Participate in Binance Margin Quiz?
The procedure of taking part in the Binance Margin Quiz is too simple.
If you don’t know the process then follow the steps mentioned below:
First, visit the official website of Binance.
Once you are on the site, complete the verification process and log in.
Once logged in, click on the ‘Trade’ option located at the top of the screen.
From the drop-down options, select “Margin”.
When you do so, you will be asked to complete the Margin Quiz.
To start the Margin Quiz, click on the ‘Start the Quiz’ button.
Binance Margin Quiz Answers (2022)
- Which of the following factors affect (s) your Maximum borrowing limit?
a. The number of funds in your Margin account
b. Your VIP level
c. The system borrowing limit
d. Your individual borrowing limit
e. all of the above.
- Which of the following sentences correctly describes your borrowing interest rate?
a. The borrowing interest rate will change with the market, and the system will notify you when it changes.
b. The borrowing interest rate will be determined at the time of borrowing, with no changes afterwards.
- The margin level is used to evaluate the risk level of your Margin account. How is the Margin level calculated?
a. Margin Level= total assets value/(total borrowed value + total accrued interest value)
b. Margin Level= total assets value/(total borrowed value – total accrued interest value)
c. Margin Level= total assets value/ total accrued interest value
- When receiving a margin call notification, what should you do?
a. Borrow more funds to hedge the risk
b. Reduce your position to repay the debt or add more collateral into the Magin account.
c. Do nothing
- Which of the following events will force you to liquidate?
a. The Magin level has reached the liquidation level.
b. The current margin level has reached the initial margin level.
c. The total debt is lower than the total interest.
- When your margin wallet is under liquidation (margin level reaches liquidation level) which of the following best describes what will happen?
a. Your will not be able to trade with this wallet.
b. The system will automatically sell your assets to repay your debts.
c. You will be charged a liquidation clearance fee according to the number of assets being liquidated
d. all of the above.
- A forced liquidation occurs when the Margin Level reaches the liquidation level. Users are charged a ‘Liquidation Clearance Fee’ in the event of forced liquidation. Which of the following contains the correct description for Liquidation Clearance Fees?
a. The Liquidation Clearance Fee is a fixed value for each liquidation.
b. When the position is forcedly liquidated, the user will only be charged with commission fees of the liquidation orders and does not need to pay additional ‘Liquidation Clearance Fees’
c. When the position is forcedly liquidated, a Liquidation Clearance Fee will be charged according to the amount of the assets being liquidated. The system may use all the remaining assets in the margin wallet to complete the liquidation.
That’s everything you need to know about the Binance Margin Quiz.