Binance Margin Quiz Answers August 2022 | Updated
Binance Margin Quiz Answers – You need to pass a quiz before you do margin trading on the Binance exchange and it is a mandatory quiz that needs to be given to proceed with trading.
Binance exchange is a platform where you can buy, trade, or hold 600+ cryptocurrencies like Bitcoin, Ethereum, ChainLink, Rune, Cardano, Binance Coin, SHIB, and many more.
Additionally, explore awesome art and collectibles on Binance NFT marketplace! BNB is the native asset on Binance Chain, a blockchain software system developed by Binance and the community.
There is Binance Learn & Earn section where you can earn free crypto by taking quizzes, completing trading tasks, etc. Here in this post you will find Binance questionnaire answers.
In this post, you will get updated Binance Margin Quiz Answers for this month, August 2022. You can also join our telegram channel for other quiz answers and verified airdrops too.
Binance Margin Quiz Answers | August 2022
Q1) Binance Margin includes cross margin and isolated margin. Which one of the following sentences does not describe their difference?
Answer: They have different interest rates
Q2) Margin level is used to evaluate the risk level of your margin account. How is margin level calculated?
Answer: Margin level = total assets value/(total borrowed value + total accrued interest value)
Q3) Which one of the following events will force you to liquidate?
Answer: The margin level has reached the liquidation level
Q4) How often is margin interest calculated?
Answer: Hourly, at the time of borrowing
Q5) Do you need to borrow manually before trading?
Answer: No, you can use the ‘auto borrow’ function on the trading page
Q6) Which one of the following factors does not affect your maximum borrowing limit?
Answer: The borrowing period
Q7) Which one of the following sentences is correct regarding your borrowing interest rate?
Answer: The borrowing interest rate will change with the market, and the system will notify you when it changes
Q8) In the event of liquidation, how to repay your debts?
Answer: Binance insurance funds will write off your debts
Q9) How to pay the interest fee with BNB in cross margin?
Answer: Transfer BNB to cross margin account and repay manually
Q10) When you receive a margin call notification, what should you do?
Answer: Reduce your position to repay the debt or add more collateral into the margin account
Q11) When trading on Margin, a forced liquidation occurs when the margin risk ratio (total assets/total debts) reaches the liquidation risk ratio. 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?
Answer: 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
Q12) When the margin risk ratio (total assets/total debts) of your margin wallet reaches liquidation risk ratio, which one of the following best describes what will happen?
Answer: All of the above
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