Chapter3习题集及答案.pdfVIP

Chapter3 习题集及答案 Chapter 3 Foreign Currency Futures 3.1 Multiple Choice and True/False Questions 1) Financial derivatives are powerful tools that can be used by management for purposes of A) speculation. B) hedging. C) arbitrage. D) A, B and C above. Answer: D 2) A foreign currency ________ contract calls for the future delivery of a standard amount of foreign exchange at a fixed time, place, and price. A) futures B) forward C) option D) swap Answer: A 3) Currency futures contracts have become standard fare and trade readily in the world money centers. Answer: TRUE 4) The major difference between currency futures and forward contracts is that futures contracts are standardized for ease of trading on an exchange market whereas forward contracts are specialized and tailored to meet the needs of clients. Answer: TRUE 5) Which of the following is NOTa contract specification for currency futures trading on an organized exchange? A) size of the contract B) maturity date C) last trading day D) fixed gains Answer: D 6) About ________ of all futures contracts are settled by physical delivery of foreign exchange between buyer and seller. A) 0% B) 5% C) 50% D) 95% Answer: B 7) Futures contracts require that the purchaser deposit an initial sum as collateral. This deposit is called a A) collateralized deposit. B) marked market sum. C) margin. D) settlement. Answer: C 8) A speculator in the futures market wishing to lock in a price at whic