上海工程技术大学期货与期权0708第二学期期末试卷及答案.docVIP

（勤奋、求是、创新、奉献） 2007～2008学年第二学期考试试卷 主考教师_____葛开明____ 学院 管理学院 班级 __________ 姓名 __________ 学号 ___________ 《Futures and options》课程试卷 （本卷考试时间 90 分钟） 题号 一 二 三 四 五 总得分 题分 20 10 15 20 35 100 得分 选择题 （在每小题的备选答案中选出一个正确答案，填在下列表内。每小题 2 分，共20 分） 1 2 3 4 5 6 7 8 9 10 1 A client goes long 2 futures contracts of corn, 5000 bushels per contract. The inial margin is $0.30 per bushel. How much should he deposit in his margin account? $1,000 $1,500 $2,000 $3,000 2. The maximum potential loss of the buyer of an option is ( ) A..the strike price B the strike price less the premium C the premium D unlimited 3 If the futures price of soybean is RMB 5505 yuan per ton. And the spot price is RMB5550 yuan per ton, In this case ,the basis is ( ) A RMB 45 yuan B–RMB 45 yuan C RMB 11055 yuan D–RMB 11055 yuan 4 the intrinsic value of a call option is ( ) A the strick price minus time value B the market price minus time value C the strick price plus time value D the market price plus time value 5 When a new futures trading is completed the open interests of the contract will ( ) A increase B decrease C unchanged D uncertain 6.At the end of each trading day, the clearing-house will mark to the market all outstanding futures positions. This is called ( ) offsetting settlement margining speculating 7. A bull spreads is composed of a long position in a call option and a short position in another call option on the same stock with ( )strike price. Both options have the same expiration date. A．a higher B. a lower C the same D different 8 When a speculator shorts a certain share in the futures market, he expects the price of the share will ( ). A go up B. fall down C remain stable D.fluctuate 9 If the basis increases positively, ( ) will make profits. A an investor who takes a long position in spot market B an investor who takes a short position in spot market C long hedger D short hadger 10 A