[CFA level 1模拟真题]Version 5 Questions－Q46 level

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Q46.  Prior to expiration, the maximum value of an Americana call option and an American put option, respectively, is closest to the:

	American call option	American put option
A	Exercise price	Exercise price
B	Exercise price	Underlying price
C	Underlying price	Exercise price
D	Underlying price	Underlying price

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答案详解如下：

Q46.  C  Study Session   17-76-f

The maximum value of a call option is the underlying price; it makes no sense to pay more for the right to buy the underlying than the value of the underlying itself, and the maximum value of an American put is the exercise price because the best outcome would be if the stock fell to zero, the holder could capture the value of the exercise price.

fantasy_ln

11

水模样

bu

shenyue

c

technet

b

hollow

o

ondesert

c

一只船

W

Linda_SCB

C