[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fLbZmc5Exod7QVshPVdgGXwH6VQCEg6V8GgDTZzb_zFM":3},{"id":4,"source":5,"question":6,"options":7,"answer":11,"related":12,"type":22,"origin":101,"createTime":24},338449666,"v1","The price of a stock is $100 and the risk-free rate is 5%. If the strike price of a European put option with one year until expiration is $105, the put option is",[8,9,10],"at the money","in the money","out of the money",[],[13,25,34,43,52,61,70,79,88,92],{"id":14,"source":5,"question":15,"options":16,"answer":20,"related":21,"type":22,"origin":23,"createTime":24},338449658,"Based on put–call–forward parity, a trader can replicate a short forward position with a",[17,18,19],"short put, a long call, and a long bond","short put, a short call, and a short bond","long put, a short call, and a short bond",[],[],0,null,"2026-04-12T03:51:06+08:00",{"id":26,"source":5,"question":27,"options":28,"answer":32,"related":33,"type":22,"origin":23,"createTime":24},338449659,"A protective put is a derivatives strategy that involves",[29,30,31],"selling a call and buying a put","selling an asset and buying a put","buying an asset and buying a put",[],[],{"id":35,"source":5,"question":36,"options":37,"answer":41,"related":42,"type":22,"origin":23,"createTime":24},338449660,"The daily settlement of mark-to-market gains and losses in exchange-traded derivatives most likely reduces",[38,39,40],"basis risk","liquidity risk","counterparty credit risk",[],[],{"id":44,"source":5,"question":45,"options":46,"answer":50,"related":51,"type":22,"origin":23,"createTime":24},338449661,"Which of the following derivative contracts has a hard commodity underlying",[47,48,49],"Cattle futures","Soybean futures","Aluminum futures",[],[],{"id":53,"source":5,"question":54,"options":55,"answer":59,"related":60,"type":22,"origin":23,"createTime":24},338449662,"The price of a pay-fixed receive-floating interest rate swap is most likely",[56,57,58],"the fixed rate that results when the market value of the swap is zero at initiation","the sum of the fixed-rate payments minus the sum of the floating-rate payments","the present value of the floating-rate payments minus the present value of the fixed-rate payments",[],[],{"id":62,"source":5,"question":63,"options":64,"answer":68,"related":69,"type":22,"origin":23,"createTime":24},338449663,"If a call option is overvalued relative to the binomial model, investors can earn a return above the risk-free rate by selling the call option and simultaneously",[65,66,67],"buying the underlying","selling short the underlying and investing the proceeds at the risk-free rate","buying the underlying and funding the transaction by borrowing funds at the risk-free rate",[],[],{"id":71,"source":5,"question":72,"options":73,"answer":77,"related":78,"type":22,"origin":23,"createTime":24},338449664,"The no-arbitrage condition is violated at option expiry when the value of an in-the-money",[74,75,76],"put option is below its exercise price","put option is below its exercise value","call option is below the price of its underlying",[],[],{"id":80,"source":5,"question":81,"options":82,"answer":86,"related":87,"type":22,"origin":23,"createTime":24},338449665,"An investor buys a call for $10.70 that has a strike price of $450. If the value at expiration for this call is $33.60, the price of the underlying at expiration is closest to",[83,84,85],"$416.40","$472.90","$483.60",[],[],{"id":4,"source":5,"question":6,"options":89,"answer":90,"related":91,"type":22,"origin":23,"createTime":24},[8,9,10],[],[],{"id":93,"source":5,"question":94,"options":95,"answer":99,"related":100,"type":22,"origin":23,"createTime":24},338449667,"The price of a European put option rises with an increase in the",[96,97,98],"risk-free rate","price of the underlying","volatility of the underlying",[],[],{"courseName":102,"courseImg":103,"workName":104,"workId":104,"count":22,"courseId":105},"默认课程","https:\u002F\u002Ftihai-oss-cloud.itihey.com\u002Fimg\u002F03a579384a6dc297c89809b582fcc767.png","","53e1d2ef4961cca8eea3e23969ad2cb9"]