金融衍生工题库英文版.docx

二、多选英语1．The current stock price is ＄29 and a 3-month call with a strike price of ＄30 costs ＄2.90. Under what circumstances will the option be exercised?（） A． stock price is 29$ B．stock price is 30.90$ C． stock price is 26$ D．stock price is 35$ 2．Trading strategies of hedge funds include （） A．Market neutral B．Treasury bonds C．Convertible arbitrage D．Emerging markets3．When the spot price is above the futures price during the delivery period，a clear arbitrage opportunity by traders is （） A．Make delivery B．Buy a futures contract C．Buy the asset C．Sell a futures contract E．Sell the asset4．Individuals taking positions can be categorized as （） A．scalpers B．hedgers C．arbitrageurs D．speculators5．The main features that futures are different from forward are （） A．Settled daily B．Some credit risk C．Standardized contract D．Traded on an exchange6．If the price of gold goes up，the conclusions that the following are correct are （） A．The company that does not use futures contracts to hedge its purchase is unaffected on its gross profit margin. B．The company’s profit margin will increase after the effects of hedge have been taken into account. C．The company’s profit margin will decrease after the effects of hedge have been taken into account. D．The wholesale price of the jewelry will tend to lead a corresponding decrease.7．When β=3.0，it illustrates that（） A．the excess return on the portfolio tends to be three times as great as the excess return on the market B．the sensitive to market movement is twice as a portfolio with a beta 1.5 C．it is therefore necessary to use twice as many contracts to hedge the portfolio D．if the beta of portfolio falls to 2.0，the number of contracts shorted should increase8．The bank’s statement that the interest rate is 10% means that $100 grow to （） A．$110.38 when the interest rate is measured w