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LOS i: Evaluate the credit risk of an investment position, including forward contract, swap, and option positions.
Q1. The long position of a forward contract bears the credit risk if the market price of the underlying is:
A) less than the exercise price.
B) equal to the exercise price.
C) greater than the exercise price.
Q2. Which of the following will have the least amount of credit risk? A(n):
A) either position in a plain-vanilla currency swap.
B) short option position.
C) pay-fixed position in a plain-vanilla interest rate swap.
Q3. Prior to expiration, the long position in a European option would have:
A) zero credit risk.
B) only potential credit risk.
C) more current credit risk than potential credit risk.
LOS i: Evaluate the credit risk of an investment position, including forward contract, swap, and option positions. fficeffice" />
Q1. The long position of a forward contract bears the credit risk if the market price of the underlying is:
A) less than the exercise price.
B) equal to the exercise price.
C) greater than the exercise price.
Correct answer is C)
This is true because the long position will be in-the-money, which means there is a possibility of not being paid what is owed.
Q2. Which of the following will have the least amount of credit risk? A(n):
A) either position in a plain-vanilla currency swap.
B) short option position.
C) pay-fixed position in a plain-vanilla interest rate swap.
Correct answer is B)
The holder of a short option position has received all the income it can expect. Thus, it has no credit risk. Both remaining listed positions have some credit risk.
Q3. Prior to expiration, the long position in a European option would have:
A) zero credit risk.
B) only potential credit risk.
C) more current credit risk than potential credit risk.
Correct answer is B)
Since the long position can only be owed money at expiration, then that is when there is current credit risk. Prior to that, there can only be potential credit risk.
如果有一天，你离开。你会回来找我....等你回家。不管是一天，一年，还是一辈子，没有想像中的结局，就没有结束。是幸福，是感动。如果真有那么一天，我相信，我们的爱，值得我去等待....
离开，只是另一种无言的爱。过去，是回忆的旋律，现在，是想念的主题。如果你的离开，我始料为及，在你离去的那一刻，我的世界崩溃瓦解。我忍住泪水，闭目行走，一切的一切，都那样自然，一气呵成，没有丝毫破绽。
如果，那伤，不痛，是不是就可以说曾经没有伤害过。如果，那痛，不深，是不是就可以说过去没有深爱过。爱于不爱，没有理由，无法言说，只有自己才知道。我想，我是深深爱着你，因为，那伤，真痛.
没有你，我的世界，连天空也变了颜色，连空气也变得浑浊。没有阳光，没有云朵，只有无限的寂寞和孤单，争先恐后的涌过来，跟随着我。我像一个走失的孩子，突然害怕起来，每一个路口都那样陌生，哪一条才是回家的路？我才发现，原来，你对我是那么的重要，没有人可以替代。没有你，我失去了我自己.
我*在原地的椅子上，麻痹了我的思想，瞬间，冰冻了那颗支离破碎的心。空气里充斥着血腥的味道，那一定是心碎时不小心留下的痕迹。我闭上眼，深深的呼吸，脑海里全是你的影子，你的哭，你的笑，你骄傲的表情，你身上的味道。睁开眼，现实的无奈，重重的将我推入回忆的深渊，记忆苏醒，那伤，好痛，好痛。原来，你一直住在我的左心房，不曾离开.
Thx!
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