NO.PZ2020042003000021
问题如下:
Lily has equity of $100 in cash. She
creates a short position in stock A. The current price of stock A is 100 and Lily
sells it. The cash for the short sell remains in the dealer’s account and
cannot be used to fund other investments. In addition, Lily puts up $50 as
collateral. According to the information above, what is the position’s
leverage?
选项:
A.
2
B.
4
C.
3
D.
1
解释:
考点:对Leverage的理解
答案:本题选A
解析:
Lily的Asset有200,有50元的Cash,以及150 due from broker,150里面有100是Short Stock A获得的,50是Collateral。
Lily的Equity为100,因此Leverage ratio = 2.
对于lily这个人来说,asset200,equity100。
对于融券账户来说,asset150,equity50。
可以这样理解吗?