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Q9. Which of the following statements about futures is least accurate?
A) The exchange-mandated uniformity of futures contracts reduces their liquidity.
B) Futures contracts have a maximum daily allowable price limit.
C) The futures exchange specifies the minimum price fluctuation of a futures contract.
Q10. Which is the only type of commodity where trading in forward contracts is larger than trading with future contracts?
A) Agricultural.
B) Foreign currency.
C) Interest rate.
Q11. The clearinghouse, in U.S. futures markets, does NOT:
A) guarantee performance of futures contract obligations.
B) choose which assets will have futures contracts.
C) act as a counterparty in futures contracts.
Q12. Which of the following statements regarding futures contracts is least accurate?
A) The exchange sets the times of trading for futures contracts.
B) The long will have gains when the futures price rises above the initial contract price.
C) Price fluctuations can be any amount.
Q13. All of the following are characteristics of futures contracts EXCEPT:
A) they are liquid.
B) they trade in a dealer (over the counter) market.
C) the contract size is standardized.
Q14. Standardization features of futures contracts do not include the:
A) delivery time.
B) quality of the good that can be delivered.
C) delivery price of the commodity.
Q15. Standardized futures contracts are an aid to increased market liquidity because:
A) standardization of the futures contract stabilizes the market price of the underlying commodity.
B) standardization results in less trading activity.
C) uniformity of the contract terms broadens the market for the futures by appealing to a greater number of traders.
Q16. Futures have greater market liquidity than forward contracts, because futures are:
A) developed with specific characteristics to meet the needs of the buyer.
B) standardized contracts.
C) sold only for widely traded commodities, unlike forwards.
Q17. For a futures trade:
A) the buyer pays the bid price; the seller receives the ask price.
B) a single price is determined by supply and demand.
C) the seller receives the bid price; the buyer pays the ask price.
[此贴子已经被作者于2009-3-2 10:05:33编辑过] | 
发表于 2009-3-2 10:05
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