掃碼下載APP
及時接收最新考試資訊及
備考信息
學習是一個不斷積累的過程,每天學習一點,每天進步一點!為了幫助大家更高效地備考2021年CFA考試,正保會計網校每日為大家上新CFA習題供大家練習。讓網校與您一起高效備考2021年CFA考試,夢想成真!
Questions 1:
According to put–call parity, if a fiduciary call expires in the money, the payoff is most likely equal to the:
A 、difference between the market value of the asset and the face value of the risk-free bond.
B 、market value of the asset.
C、 face value of the risk-free bond.
Questions 2:
When valuing a call option using the binomial model, an increase in the probability that the underlying will go up most likely implies that the current price of the call option:
A、 increases.
B 、remains unchanged.
C、 decreases.
B is correct. A fiduciary call, defined as a long position in a call and in a risk-free bond, generates a payoff that is equal to the market value of the asset if it expires in the money.
A is incorrect. The difference between the market value of the asset and the face value of the risk-free bond is the payoff of the long call if exercised. This ignores the fact that the face value of the bond needs to be added to the payoff.
C is incorrect. The face value of the risk-free bond is the payoff of the fiduciary call if the call expires out of the money,
B is correct. The probability that the underlying will go up is not part of the binomial model for pricing options. This probability is irrelevant because the options are priced using risk-neutral probabilities. These are derived by constructing a hedged portfolio in the absence of arbitrage opportunities.
A is incorrect. The probability that the underlying will go up is not part of the binomial model for pricing options and hence does not influence the value of the call option.
C is incorrect. The probability that the underlying will go up is not part of the binomial model for pricing options and hence does not influence the value of the call option.
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。而人們經常只看到“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,即使是一點點的進步,大家一定可以成為人人稱贊的“牛人”。更多CFA考試資訊,點擊了解>
Copyright © 2000 - www.electedteal.com All Rights Reserved. 北京正保會計科技有限公司 版權所有
京B2-20200959 京ICP備20012371號-7 出版物經營許可證 京公網安備 11010802044457號
套餐D大額券
¥
去使用 主站蜘蛛池模板: 在线观看av网 | 国产激情亚洲 | 国产黄色在线网站 | 国产成人精品久久二区二区 | 免费黄视频网站 | 色交视频| 日韩欧美在 | 18资源在线www免费 | 国产在线激情 | 国产一区二区在线播放 | 国产成人a亚洲精品 | 黄色在线观看视频网站 | 亚洲一区二区三区中文字幕 | 久久九九国产 | 日韩免费一级 | 中文字幕精品三区 | 免费中文字幕 | 久久久久久久av | 丰满少妇高潮惨叫久久久久 | 亚洲福利视频导航 | 性国产| 99这里只有精品视频 | 国产成人精品久久二区二区 | 免费v片在线观看 | 日韩欧美精品在线观看 | 亚洲精品视频播放 | 精品国产一区二区三区麻豆小说 | 男女爱爱网站 | 日韩精品一区二 | 国产欧美在线 | 日韩午夜视频在线观看 | 91亚洲成人 | 可以在线观看的av网站 | 日韩三级在线播放 | 国产精品一区久久久 | 九九精品视频在线 | www色av | 欧洲成人av| 久久1区| 国产视频一区在线观看 | 国产一区二区三区视频在线 |