题目内容

Concerning efficient financial( including derivative) markets, the most appropriate description is that

A. it is often possible to earn abnormal returns.
B. the law of one price holds only in the academic literature.
C. arbitrage opportunities rarely exist and are quickly eliminated.

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An investor purchases a stock for $40 a share and simultaneously sells a call option on the stock with an exercise price of $42 for a premium of $3/share. Ignoring dividends and transactions cost, what is the maximum profit that the writer of this covered call can earn if the position is held to expiration

A. $81.
B. $6.
C. $5.

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Consider a commercial bank that is about to make a large variable-rate loan. Which of the following would be an appropriate position for the bank to hedge its risk with this loan Pay:

A. variable to a currency swap counterparty and receive fixed.
B. variable to an interest rate swap counterparty and receive fixed.
C. fixed to an interest rate swap counterparty and receive variable.

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An option"s intrinsic value is equal to the amount the option is:

A. out of the money, and the time value is the market value minus the intrinsic value.
B. in the money, and the time value is the intrinsic value minus the market value.
C. in the money, and the time value is the market value minus the intrinsic value.

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1．现在许多人在为人处事方面只关心自己的利益而很少去顾及他人 2．互相理解对于说话的双方都非常重要 3．为此，我们应该……

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Concerning efficient financial( including derivative) markets, the most appropriate description is that

A. it is often possible to earn abnormal returns. B. the law of one price holds only in the academic literature. C. arbitrage opportunities rarely exist and are quickly eliminated.

Consider a commercial bank that is about to make a large variable-rate loan. Which of the following would be an appropriate position for the bank to hedge its risk with this loan Pay:

An option"s intrinsic value is equal to the amount the option is:

1．现在许多人在为人处事方面只关心自己的利益而很少去顾及他人 2．互相理解对于说话的双方都非常重要 3．为此，我们应该……

A. it is often possible to earn abnormal returns.
B. the law of one price holds only in the academic literature.
C. arbitrage opportunities rarely exist and are quickly eliminated.