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?:
AnswerOptions:
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?
AnswerOptions:
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 Answer4: 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?
AnswerOptions:
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 5: 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?
AnswerOptions:
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 6: 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 7: Behaviours to Avoid
Question 7: What kind of behaviour should I avoid when engaging in futures transactions?
AnswerOptions:
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 Question 8: Understanding the Rules
Question 8: To continue trading on the futures, I have:
AnswerOptions:
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.
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.
AnswerOptions:
Agree
Disagree
Binance Futures QuizAnswer14: Agree
What is Binance Futures Trading?
Binance Futures Trading allows users to predict the future price of a cryptocurrency. Like stock indices or commodity futures contracts work, instead of speculating on an asset’s future value, Crypto futures is based on cryptocurrency’s future value.
With crypto futures, traders can obtain exposure to digital currencies without owning any underlying assets. When a crypto futures contract expires, users will simply use cash instead of physically dealing in crypto.
Before trading, it is necessary to be knowledgeable about crypto futures trading; therefore, new users must complete a Binance Futures Quiz.
