CFA历年考题以及相关资料 Quiz 16.docVIP

PAGE PAGE 1 16: Asset Valuation: Derivative Investments 1.A: Introduction Question ID: 13922Hedgers in the futures market usually: A. only trade in futures market. B. only trade in cash market. C. trade in neither cash nor futures markets. D. trade in both cash and futures markets. D Question ID: 13920Any rational price for a financial instrument should: A. be low enough for most investors to afford. B. be always increasing. C. provide no opportunity for arbitrage. D. provide an opportunity for investors to make a profit. C Question ID: 24778 Which of the following statements about options and their underlying assets is FALSE? A. The value of an option, in comparison to its underlying asset, has the potential of creating an arbitrage opportunity. B. The owner of the option is legally required to engage in a transaction involving the asset. C. The holder of a long position on an option is the only party with the right to initiate a transaction involving the asset. D. The seller of the option is legally required to engage in a transaction involving the asset. B The option writer is required to honor the terms of the contract if called upon by the buyer to do so. The option buyer has the discretion to exercise the contract or not. Question ID: 24852 Which of the following statements about forward and future contracts is FALSE? A. A future requires the contract purchaser to receive delivery of the good at a specified time. B. A predetermined price to be paid for a good is a necessary requirement in the terms of a forward contract. C. The future value of a financial derivative depends on the value of its underlying asset. D. The primary difference between forwards and futures is that only futures are considered financial derivatives. D Forwards and futures are similar and serve similar needs. Both are considered types of financial derivatives in that payoffs depend on another financial instrument or asset. The primary difference is that forwards are designed fo