Assume "Cash" = short-term money market?

CFA Level III Portfolio Management
#1

In the context of inflation, I saw MM refer to cash as an asset that withstands inflation well because of the associated rising rates and low duration from being a short-term security which will soon be rolled over into a higher rate asset. When it’s vague, it’s hard to tell if they’re referring to physical cash, or short-term securities.

Do we assume “Cash” = cash equivalents, such as short-term money market securities?
Would the exam say “physical currency” or “USD”, etc., when they’re referring to actual conventional cash?

#2

The curriculum also says cash = cash equivalents. In the context of inflation think of it as cash equivalents.

#3

Probably, but I cannot imagine that they’d ever be talking about paper money or coin in an exam question.

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