[CFA模拟真题] 2006 CFA Level I －NO47 option, class

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47. Prior to expiration, the maximum value of an American 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

 

 

 

 

 

 

 

Select exactly 1 answers from the following: A. B. C. D.
答案和详解如下！
Feedback: Correct answer: C

 

Analysis of Derivatives for the CFA Program, Don Chance (AIMR, 2003), pp. 180

2006 Modular Level I, Vol. IV, pp. 418-419

Study Session 16-72-g

identify the minimum and maximum values of European options and American options

 

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.

magic

Correct answer: C

gchh

c

abner_wang

c

sleeping

c

henkee123

c

guis

c

game_four

c

xiaoming

c

kristinejb

3