Reading 69: Futures Markets and Contracts- LOSe～ Q1-3 currency, likely, position, statements, following

yanghon

 

LOS e: Describe the characteristics of the following types of futures contracts: Eurodollar, Treasury bond, stock index, and currency.

Q1. Which of the following statements about futures contracts on U.S. exchanges is least likely accurate?

A)   If annualized 90-day LIBOR decreases from 3.64% to 3.58%, a long position in a $1 million Eurodollar futures contract loses $150.

B)   Prices of currency futures contracts are quoted as U.S. dollars per unit of the foreign currency.

C)   A $100,000 Treasury bond futures contract that settles at 102-16 represents Treasury bonds worth $102,500.

 

Q2. At the Chicago Board of Trade, futures on foreign currencies have a contract size fixed in:

A)   dollars and are priced in dollars per foreign currency unit.

B)   foreign currency units and are priced in dollars per foreign currency unit.

C)   dollars and are priced in foreign currency units per dollar.

 

Q3. Which of the following statements regarding Treasury bond futures is least accurate?

A)   They are a deliverable contract.

B)   The contract size is $100,000.

C)   Upon delivery, the long pays the short the futures price divided by the conversion factor for the bond the short chooses to deliver.

 

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