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"Derivative"exercise:Derivative Markets
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Questions 1:
In contrast to over-the-counter options, futures contracts most likely:
A、 are not exposed to default risk.
B 、represent a right rather than a commitment.
C 、are private, customized transactions.
Questions 2:
Which of these is best classified as a forward commitment?
A 、A convertible bond
B、 A call option
C、 A swap agreement
View answer resolution
【Answer to question 1】A
【analysis】
A is correct. Over-the-counter options are exposed to default risk, but futures contracts are standardized transactions that take place on futures exchanges and are not exposed to default risk.
B is incorrect. Futures contracts are commitments, but options represent a right.
C is incorrect. Futures contracts are not private; they are standardized instruments that trade on organized exchanges.
【Answer to question 2】C
【analysis】
C is correct. A swap agreement is equivalent to a series of forward agreements, which can be described as forward commitments.
A is incorrect. A convertible bond does not meet the definition of a forward commitment.
B is incorrect. A call option is an example of a contingent claim.解析
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