"Derivative"exercise:Derivative Markets

來源: 正保會計(jì)網(wǎng)校編輯：小鞠橘桔 2020/10/20 09:42:08　字體：大小

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Questions 1:

In contrast to over-the-counter options, futures contracts most likely:

A、 are not exposed to default risk.

B 、represent a right rather than a commitment.

C 、are private, customized transactions.

Questions 2:

Which of these is best classified as a forward commitment?

A 、A convertible bond

B、 A call option

C、 A swap agreement

View answer resolution

【Answer to question 1】A

【analysis】

A is correct. Over-the-counter options are exposed to default risk, but futures contracts are standardized transactions that take place on futures exchanges and are not exposed to default risk.

B is incorrect. Futures contracts are commitments, but options represent a right.

C is incorrect. Futures contracts are not private; they are standardized instruments that trade on organized exchanges.

【Answer to question 2】C

【analysis】

C is correct. A swap agreement is equivalent to a series of forward agreements, which can be described as forward commitments.

A is incorrect. A convertible bond does not meet the definition of a forward commitment.

B is incorrect. A call option is an example of a contingent claim.解析

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