Consider the following:1.Exchange-Traded Funds (ETF)2.Motor vehicles3.Currency swapWhich of the above is/are considered financial instruments?

1. A

   1 only

   1 only. Currency swaps are also financial instruments.

2. B

   2 and 3 only

   2 and 3 only. A motor vehicle is a real asset, not a financial instrument.

3. C

   1, 2 and 3

   All three. Motor vehicles drop.

4. D

   1 and 3 only

   1 and 3 only. ETFs and currency swaps; not cars.

Summary. Official key is (d) 1 and 3 only. An ETF is a traded financial claim. A currency swap is a derivative / FX instrument. A motor vehicle is physical capital, not a financial instrument. So 2 drops.