Binance Futures Quiz Answers: Binance Futures Quiz Answers Today September 2022. Looking to start trading crypto futures contracts on Binance Exchange? Before you can start futures trading on Binance, you must answer all the questions in the Binance Futures Quiz. This is an assessment that tests your futures trading knowledge, the risks involved and the relevant steps you take to protect your financial security.

You cannot trade futures until you pass the Binance Futures Quiz. Although the Binance quiz is fairly straightforward, this requirement can pose a problem for many crypto investors who want to start trading futures. Binance Futures Quiz Answers You need to pass a quiz before trading futures on the Binance Exchange and this is a mandatory quiz to continue trading.

Binance Exchange is a platform where you can buy, trade or hold 600+ cryptocurrencies such as Bitcoin, Ethereum, Chainlink, Rune, Cardano, Binance Coin, SHIB and more. Additionally, explore amazing art and collectibles on the Binance NFT Marketplace! BNB is the native asset of Binance Chain, a blockchain software system developed by Binance and the community.

Binance has a Learn and Earn section where you can earn free crypto by taking quizzes, completing trading tasks. Here in this post you will find answers to Binance FAQ. In this post, you will find updated Binance Futures Quiz Answers for this month, September 2022. You can also join our Telegram channel for more quiz answers and verified airdrops.

Binance Futures Quiz Answers September 2022

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Binance Futures Quiz Question 1: Maximum Loss

Question 1: What is the maximum loss that may occur when engaging in futures trading?

Answer Options:

• All futures wallet balance
• Half of my futures wallet balance
• I will not lose money

Binance Futures Quiz Answer 1: All futures wallet balance

Binance Futures Quiz Question 2: Balance Liquidation Price

Question 2: When futures balance is liquidated, what price is it based on?

Answer Options:

• Latest Price
• Last Hour Price
• Mark Price

Binance Futures Quiz Answer 2: Mark Price

Binance Futures Quiz Question 3: Insurance Clear Fees

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?:

Answer Options:

• No, I don’t know the calculation of the Insurance Clear Fee.
• 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.
• No, I don’t know the liquidation can cause the futures wallet balance to return to zero.

Binance Futures Quiz Answer 3: 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.

Binance Futures Quiz Question 4: Maximum Quantity Limits

Question 4: There is a maximum number of orders for each future. Which action should I take?

Answer Options:

• Once the maximum quantity limit is reached, the order will fail. An error will be reported. At this time, I should continue trying to place the order with the same quantity and blame the Binance platform if the system continues reporting errors.
• 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.
• Once the maximum quantity limit is reached, the order will fail, and an error will be reported. At this time, I should divide the order into several smaller quantities.

Binance Futures Quiz Answer 4: 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.

Binance Futures Quiz Question 05: Trading Failures

Question 5: When you encounter a failure to trade constantly, you must:

Answer Options:

• Repeat attempts of the original operation.
• Check the network and retain information for customer service.
• Follow the suggestions made by netizens on the Internet or in the group.

Binance Futures Quiz Answer 5: Check the network and retain information for customer service.

Binance Futures Quiz Question 6: Binance Futures Fees

Question 6: Futures fees include:

Answer Options:

• The same as spot, only transaction fees are required.
• In addition to the order commission, positions also produce capital expenses and liquidation expenses.
• The same as P2P, only transaction fees are required.

Binance Futures Quiz Answer 6: In addition to the order commission, positions also produce capital expenses and liquidation expenses.

Binance Futures Quiz Question 7: Coin-margined Currencies

Question 7: In Coin-margined futures trading, what kind of currency can be used as margin:

Answer Options:

• The currency of the USDT-margined wallet.
• The currency of this future.
• The currency of the Coin-margined wallet.

Binance Futures Quiz Answer 7: The currency of this future.

Binance Futures Quiz Question 8: Understanding the Rules

Question 8: To continue trading on the futures, I have:

Answer Options:

• Not yet understood the rules and risks of engaging in futures trading. I am not suitable for trading futures. I should learn more basic knowledge of futures trading.
• 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.
• Not yet understood the rules and risks of engaging in futures trading. I am not suitable for trading futures. But I am convinced that as long as I follow the investment advice on the Internet, I can make a profit.

Binance Futures Quiz Answer 8: 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.

Binance Futures Quiz Question 9: Futures System Services

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.

Answer Options:

• Agree
• Disagree

Binance Futures Quiz Answer 9: Agree

Binance Futures Quiz Question 10: PNL Calculations

Question 10: Profit and loss (PnL) in futures are calculated by:

Answer Options:

• wallet.
• The currency of this future.
• The currency of the Coin-margined wallet.

Binance Futures Quiz Answer 10: After closing a position, according to the opening price and closing price to calculate actual profit and loss.

Binance Futures Quiz Question 11: Binance Futures Disruption

Question 11: 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.

Answer Options:

• Agree
• Disagree

Binance Futures Quiz Answer 11: Agree

Binance Futures Quiz Question 12: Stop Market Orders

Question 12: Which of the following apply when using a stop-market order?

Answer Options:

• The transaction price must be similar to the trigger price.
• 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.
• The transaction price must be greater than the trigger price.

Binance Futures Quiz Answer 12: 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.

Binance Futures Quiz Question 13: Stop Limit Orders

Question 13: Which of the following is correct to use Stop-Limit Order?

Answer Options:

• 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.
• The limit order will be executed after it is listed.
• The limit order will not be executed after it is listed.

Binance Futures Quiz Answer 13: 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.

Binance Futures Quiz Question 14: Behaviours to Avoid

Question 14:What kind of behaviour should I avoid when engaging in futures transactions?

Answer Options:

• Strict discipline, good stop-loss, reasonable profit and loss, including winning or losing at my own risk.
• Learn the basics of futures trading and read related articles on the Binance website.
• Strong gambling, trading addictions, continuous losses, and blaming others.

Binance Futures Quiz Answer 14: Strong gambling, trading addictions, continuous losses, and blaming others.

DISCLAIMER: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that ShopTips24 is not responsible for your trading losses. Also the content expressed here is just for education purposes only.

Conclusion

When you have completed the Binance Futures Quiz using the answers above, you can start trading with futures on the Binance exchange. Futures trading isn’t for beginners and is very risky and should be used with caution.