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【单选题】

The terms of futures contracts, such as the quality and quantity of the commodity and the delivery date, are ________

A.
specified by the buyers and sellers.
B.
specified only by the buyers.
C.
specified by the futures exchanges.
D.
specified by brokers and dealers.
E.
None of the options are correct.
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【单选题】The duration of a perpetuity with a yield of 8% is________

A.
13.50 years.
B.
12.11 years.
C.
6.66 years.
D.
Cannot be determined

【单选题】If you determine that the S&P 500 Index futures is overpriced relative to the spot S&P 500 Index, you could make an arbitrage profit by ________

A.
buying all the stocks in the S&P 500 and selling put options on the S&P 500 Index.
B.
selling short all the stocks in the S&P 500 and buying S&P Index futures.
C.
selling all the stocks in the S&P 500 and buying call options on the S&P 500 Index.
D.
selling S&P 500 Index futures and buying all the stocks in the S&P 500.
E.
None of the options are correct.

【单选题】Delivery of stock index futures ________

A.
is never made.
B.
is made by a cash settlement based on the index value.
C.
requires delivery of 1 share of each stock in the index.
D.
is made by delivering 100 shares of each stock in the index.
E.
is made by delivering a value-weighted basket of stocks.

【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.