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【单选题】
A futures contract ________
A.
is an agreement to buy or sell a specified amount of an asset at the spot price on the expiration date of the contract.
B.
is an agreement to buy or sell a specified amount of an asset at a predetermined price on the expiration date of the contract.
C.
gives the buyer the right, but not the obligation, to buy an asset sometime in the future.
D.
is a contract to be signed in the future by the buyer and the seller of the commodity.
E.
None of the options are correct.
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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.
【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】The buyer of a futures contract is said to have a __________ position, and the seller of a futures contract is said to have a __________ position in futures.
A.
long; short
B.
long; long
C.
short; short
D.
short; long
E.
margined; long
【单选题】A trader who has a __________ position in wheat futures believes the price of wheat will __________ in the future.
A.
long; increase
B.
long; decrease
C.
short; increase
D.
long; stay the same
E.
short; stay the same
【单选题】You purchased one corn future contract at \$2.29 per bushel. What would be your profit (loss) at maturity if the corn spot price at that time were $2.10 per bushel? Assume the contract size is 5,000 b...
A.
$950 profit
B.
$95 profit
C.
$950 loss
D.
$95 loss
E.
None of the options are correct.
【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.
【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