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【单选题】
The duration of a bond is a function of the bond's ________
A.
coupon rate.
B.
yield to maturity.
C.
time to maturity.
D.
All of the options are correct.
E.
None of the options are correct.
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【单选题】Which of the following items is not specified in a futures contract?I) The contract sizeII) The maximum acceptable price range during the life of the contractIII) The acceptable grade of the commodity...
A.
II and IV
B.
I, III, and V
C.
I and V
D.
I, IV, and V
E.
I, II, III, IV, and V
【单选题】You purchased one silver future contract at \$3 per ounce. What would be your profit (loss) at maturity if the silver spot price at that time is $4.10 per ounce? Assume the contract size is 5,000 ounc...
A.
$5.50 profit
B.
$5,500 profit
C.
$5.50 loss
D.
$5,500 loss
【单选题】If you purchased one S&P 500 Index futures contract at a price of 1,550 and closed your position when the index futures was 1,547, you incurred________
A.
a loss of $1,500.
B.
a gain of $1,500.
C.
a loss of $750.
D.
a gain of $750.
E.
None of the options are correct.
【单选题】Suppose that the risk-free rates in the United States and in the United Kingdom are 5% and 4%, respectively. The spot exchange rate between the dollar and the pound is $1.80/BP. What should the future...
A.
$1.62/BP
B.
$1.72/BP
C.
$1.82/BP
D.
$1.92/BP
【单选题】If a stock index futures contract is overpriced, you would exploit this situation by________
A.
selling both the stock index futures and the stocks in the index.
B.
selling the stock index futures and simultaneously buying the stocks in the index.
C.
buying both the stock index futures and the stocks in the index.
D.
buying the stock index futures and selling the stocks in the index.
E.
None of the options are correct.
【单选题】Suppose that the risk-free rates in the United States and in Japan are 5.25% and 4.5%, respectively. The spot exchange rate between the dollar and the yen is $0.008828/yen. What should the futures pri...
A.
$0.009999/yen
B.
$0.009981/yen
C.
$0.008981/yen
D.
$0.008891/yen
【单选题】Suppose that the risk-free rates in the United States and in the United Kingdom are 4% and 6%, respectively. The spot exchange rate between the dollar and the pound is $1.60/BP. What should the future...
A.
$1.60/BP
B.
$1.70/BP
C.
$1.66/BP
D.
$1.63/BP
E.
$1.57/BP
【单选题】Foreign exchange futures markets are ________, and the foreign exchange forward markets are ________.
A.
informal; formal
B.
formal; formal
C.
formal; informal
D.
informal; informal
E.
organized; unorganized
【单选题】A hedge ratio can be computed as ________
A.
profit derived from one futures position for a given change in the exchange rate divided by the change in value of the unprotected position for the same exchange rate.
B.
the change in value of the unprotected position for a given change in the exchange rate divided by the profit . derived from one futures position for the same exchange rate.
C.
profit derived from one futures position for a given change in the exchange rate plus the change in value of the unprotected position for the same exchange rate.
D.
the change in value of the unprotected position for a given change in the exchange rate plus by the profit derived from one futures position for the same exchange rate.
【单选题】Consider the following:Risk-free rate in the United States0.04/yearRisk-free rate in Australia0.03/yearSpot exchange rate1.67 A\$/\$If the futures market price is 1.63 A\$/$, how could you arbitrage?
A.
Borrow Australian dollars in Australia, convert them to dollars, lend the proceeds in the United States, and enter futures positions to purchase Australian dollars at the current futures price.
B.
Borrow U.S. dollars in the United States, convert them to Australian dollars, lend the proceeds in Australia, and enter futures positions to sell Australian dollars at the current futures price.
C.
Borrow U.S. dollars in the United States, invest them in the U.S., and enter futures positions to purchase Australian dollars at the current futures price.
D.
Borrow Australian dollars in Australia and invest them there, then convert back to U.S. dollars at the spot price.
E.
There is no arbitrage opportunity.