标题: Reading 71: Option Markets and Contracts-LOS g 习题精选 [打印本页]
作者: 1215 时间: 2011-3-31 12:13 标题: [2011]Session17-Reading 71: Option Markets and Contracts-LOS g 习题精选
Session 17: Derivatives
Reading 71: Option Markets and Contracts
LOS g: Define interest rate caps, floors, and collars.
An investor who bought a floating-rate security and wishes to establish a minimum periodic cash flow on his investment could:
|
A) |
buy an interest-rate floor. | |
|
B) |
sell an interest-rate floor. | |
|
C) |
sell an interest-rate cap. | |
The buyer of a floor will receive a payment when the floating rate is below the floor rate, effectively establishing a minimum rate on the floating rate security.
作者: 1215 时间: 2011-3-31 12:13
Buying an interest-rate cap and selling an interest-rate floor is equivalent to:
|
A) |
buying a series of interest-rate puts and selling a series of interest rate calls. | |
|
B) |
buying a series of interest-rate calls and selling a series of interest-rate puts. | |
|
C) |
buying a series of interest-rate puts and calls. | |
A cap is equivalent to a series of (long) interest-rate calls and selling a floor is equivalent to selling a series of interest-rate puts.
作者: 1215 时间: 2011-3-31 12:13
The owner, of an interest-rate cap will:
|
A) |
receive a payment if the market rate exceeds the cap rate. | |
|
B) |
be required to make a payment if the market rate exceeds the cap rate. | |
|
C) |
receive a payment if the market rate is less than the cap rate. | |
An interest-rate cap will pay its owner the maximum of zero or the market rate minus the cap rate, times the notional principal.
作者: 1215 时间: 2011-3-31 12:13
An interest rate collar is created by buying:
|
A) |
an interest rate cap and selling an interest rate floor. | |
|
B) |
an interest rate floor and selling an interest rate cap. | |
|
C) |
both an interest rate cap and an interest rate floor. | |
An interest rate collar combines a long interest rate cap with a short interest rate floor. Selling the floor offsets some of the cost of buying the cap.
作者: luqian55 时间: 2011-10-8 11:15
thanks a lot
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