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