Derivative Investments:the value of a forward contract

下載正保會計(jì)網(wǎng)校APP 訂閱最新報(bào)考消息

來源: 正保會計(jì)網(wǎng)校編輯：大耳朵圖圖 2020/09/14 13:46:25　字體：大小

選課中心

多樣班次滿足需求

選課中心

資料專區(qū)

干貨資料助力備考

資料專區(qū)

報(bào)考指南

報(bào)考條件一鍵了解

報(bào)考指南

學(xué)習(xí)是一個不斷積累的過程，每天學(xué)習(xí)一點(diǎn)，每天進(jìn)步一點(diǎn)！為了幫助大家更高效地備考2021年CFA考試，正保會計(jì)網(wǎng)校每日為大家上新CFA習(xí)題供大家練習(xí)。讓網(wǎng)校與您一起高效備考2021年CFA考試，夢想成真！

Questions 1:

Conceptually, a FRA 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:

During its life, the value of a forward contract is most likely equal to the price of the underlying

minus the price of the:

A. forward, discounted over the remaining term of the contract.

B. forward.

C. forward, discounted over the original term of the contract.

View answer resolution

【Answer to question 1】（A）

【analysis】

FRAs 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 which offsets the unknown future interest payment.

【Answer to question 2】（A）

【analysis】

The value of a forward contract is the spot price of the underlying minus the present value of the forward contract. Calculating the present value requires adjusting the time period to account for the remaining term of the contract.

成功=時間+方法，自制力是這個等式的保障。世上無天才，高手都是來自刻苦的練習(xí)。而人們經(jīng)常只看到“牛人”閃耀的成績，其成績背后無比寂寞的勤奮。小編相信，每天都在勤奮練習(xí)，即使是一點(diǎn)點(diǎn)的進(jìn)步，大家一定可以成為人人稱贊的“牛人”。