NO.PZ2023040401000015
问题如下：
Which of the following factors is shared by forwards and futures contracts?
选项：
A.
Timing of profits
B.
Flexible settlement arrangements
C.
Nearly equivalent profits by expiration
解释：
C is correct. Comparing the derivatives, forward and futures contracts have nearly equivalent profits by the time of expiration of the forward.
A is incorrect because the timing of profits for a futures contract is different from that of forwards. Forwards realize the full amount at expiration, whereas futures contracts realize their profit in parts on a day-to-day basis.
B is incorrect because the settlement arrangements for the forwards can be agreed on at initiation and written in the contract based on the desires of the engaged parties. However, in the case of a futures contract, the exchange (not the engaged parties) specifies whether physical delivery or cash settlement applies.
第一个选项不理解。。。。
