新用户扫码下载
扫码下载APP
及时接收最新考试资讯及
备考信息
"Derivative"exercise:The binomial model
学习是一个不断积累的过程，每天学习一点，每天进步一点！为了帮助大家更高效地备考2021年CFA考试，正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试，梦想成真！
Questions 1:
Conceptually, a forward rate agreement most likely allows a company that wants to invest money in the future to lock in a rate by making a:
A 、variable payment and receiving a fixed payment.
B、 fixed payment and receiving a different fixed payment.
C、 fixed payment and receiving a variable payment.
Questions 2:
In the binomial model, the difference between the up and down factors bestrepresents the:
A 、volatility of the underlying.
B 、moneyness of an option.
C、 pseudo probability.
View answer resolution
【Answer to question 1】A
【analysis】
A is correct. Forward rate agreements are forward contracts that conceptually allow lenders to lock in a fixed payment on a future investment by receiving a known payment and making an unknown payment that offsets the unknown future interest payment.
B is incorrect. This does not offset the unknown interest payment in the future and thus does not lock in a rate.
C is incorrect. Making a fixed payment and receiving a variable payment looks in a borrowing rate in a forward rate agreement.
【Answer to question 2】A
【analysis】
A is correct. The volatility of the underlying is captured in the binomial model by the difference between the up and down factors.
B is incorrect. The moneyness of an option is given by the difference between price of the underlying and exercise price.
C is incorrect. The difference between the up and down factors is only one part (the denominator) of the formula for the pseudo probabilities.
成功=时间+方法，自制力是这个等式的保障。世上无天才，高手都是来自刻苦的练习。而人们经常只看到“牛人”闪耀的成绩，其成绩背后无比寂寞的勤奋。小编相信，每天都在勤奋练习，即使是一点点的进步，大家一定可以成为人人称赞的“牛人”。更多CFA考试资讯，点击了解>
推荐阅读
相关资讯
新用户扫码下载
扫一扫关注
京公网安备 11010802023314号
