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Reading 71: Option Markets and Contracts-LOS e 习题精选

Session 17: Derivatives
Reading 71: Option Markets and Contracts

LOS e: Identify the types of options in terms of the underlying instruments.

 

 

Financial options include all of the following EXCEPT options on:

A)
interest rates.
B)
foreign currencies.
C)
futures.


 

Options on futures are considered a separate type of options.

An option to buy Mexican pesos is:

A)
a currency option.
B)
an exchange rate option.
C)
a foreign option.


Options on foreign currencies are called currency options and cover a specific number of foreign currency units.

TOP

Which of the following statements regarding interest-rate options is least accurate?

A)
They are based on a fixed income security.
B)
Call option values move in the same direction as interest rates.
C)
They are based on a specific interest rate rather than a bond.


Treasury bond or bill options are options on fixed income securities. Interest rate options are based on a specific reference rate and interest rate calls have positive payoffs when the reference rate is above the rate specified in the contract.

TOP

An option is settled in cash, with nothing delivered. The long payoff is the difference between the security value and the strike price, multiplied by a contract multiplier. The option is a(n):

A)
commodity option.
B)
futures option.
C)
index option.


Options on stock indexes are only settled in cash and require a multiplier to determine the payoff. Futures options give the holder the right to buy or sell a futures contract, but require no multiplier. Commodity options give the holder the right to buy or sell physical goods.

TOP

thanks a lot

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