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兔儿爷 · 2020年03月13日

问一道题：NO.PZ2018062007000087

  1. CFA I
  2. Derivative

问题如下：

In contrast to contingent claims, forward contracts:

选项：

A.

have their prices chosen by the participants.

B.

could end in default by either party.

C.

can be exercised by physical or cash delivery

解释：

B is correct. In a forward contract, either party could default, whereas in a contingent claim, default is possible only from the short to the long. A is incorrect because the forward price is set in the pricing of the contract such that the starting contract value is zero, unlike contingent claims, under which parties can select any starting value. C is incorrect because both forward contracts and contingent claims can be settled by either physical or cash delivery.

C选项错在哪里？

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1 个答案

xiaowan_品职助教 · 2020年03月14日

嗨，从没放弃的小努力你好：


同学你好，这道题是对比forward合约和contingent claims（期权）的差别，C选项说不同点是forward可以实物交割或现金交割，

但这不是差别，contingent claims也有这两种交割方法


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