NO.PZ2018062007000102
问题如下：
Which of the following factors does not affect the spot price of an asset that has no interim costs or benefits?
选项：
A.The time value of money
B.The risk aversion of investors
C.The price recently paid by other investors
解释：
C is correct. The price recently paid by other investors is past information and does not affect the spot price. The time value of money and the risk aversion of investors determine the discount rate. Only current information is relevant as investors look ahead, not back.
中文解析：
其他投资者最近支付的价格是过去的信息，不影响现货价格。资金的时间价值和投资者的风险厌恶决定了贴现率。
题干要求选的是不影响的因素，因此选C。
即没有cost/benefit，这种情况下FP=S x (1+rf)^T?
