开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

天文爱好者 · 2024年02月14日

选项A没懂

NO.PZ2023041003000011

问题如下:

Fourie is discussing forward contracts with Patrick Jacob, a new risk analyst at Global Bullion. Jacob is asking about similarities and differences between forward and futures contracts. Fourie makes the following comments to Jacob:

Comment 1 If you are long a futures or forward contract and the price of the underlying has risen, the value of a futures contract is most likely lower than that of the equivalent forward contract.

Comment 2 Forward contracts are marked to market each day, whereas futures contracts are not.

Comment 3 The market value of both futures and forward contracts at initia­tion is zero.

Which of Fourie’s comments to Jacob is least likely accurate?

选项:

A.

Comment 1

B.

Comment 2

C.

Comment 3

解释:

Fourie’s second comment to Jacob regarding marking to market is incorrect. Futures contracts are marked to market each day, whereas forward contracts are not. Comments 1 and 3 are accurate.

A is incorrect. Fourie’s first comment is accurate. Because futures contracts are marked to market daily, profits are paid out and the value is reset to zero. As a result if you are long a contract and the price has risen, the forward contract will likely have a higher value than the futures contract.

C is incorrect. Fourie’s last comment is accurate. The market value of both futures and forward contracts at initiation is zero.

选项A没懂,为什么期货价值变小,远期价值变大

1 个答案

李坏_品职助教 · 2024年02月14日

嗨,从没放弃的小努力你好:


期货合约(futures)是逐日盯市(Mark to market)制度的,也就是每天收盘后,交易所会自动计算每个账户的盈亏情况。如果你做多期货了,期货价格上升,你有了盈利,当天收盘后就会转化为已实现的利润,而期货合约的value会重置为0。


但是远期合约(forward)没有这个逐日盯市制度,所以远期合约的value会随着资产价格上升而持续上升,不会重置为0. 所以远期合约的value此时会高于期货合约的value,所以comment 1是正确的。

----------------------------------------------
努力的时光都是限量版,加油!

  • 1

    回答
  • 0

    关注
  • 275

    浏览
相关问题