FX Swap - Confused (Mid-Point of bid / ask)

CFA Level II
#1

In the CFAI book, on pg. 516, they have an example (question 4) where they are calculating the forward rate and do not use the mid-point on the spot rate. I’m very confused but this because I thought for FX Swaps, you need to use the mid-point. Would someone be able to help?

They use the ask of 0.7830 instead of the midpoint between 0.7825 and 0.7830 and add the 3-months point of -10.0 / 10,000… why do they use 0.7830 instead of the mid-point when calculating the all-in 3 months forward rate?

#2

It’s a forward FX position (use bid-offer), not an FX swap (use mid).

#3

“The situation is slightly different when calculating forward exchange rates for an FX swap. An FX swap transaction consists of simultaneous spot and forward transac- tions , where the base currency is being bought (sold) spot and sold (bought) forward”

I don’t think this is the case with example you mentioned.