NO.PZ2016082402000057
问题如下:
A long position in a 2 x 5 FRA is equivalent to the following positions in the spot market:
选项:
A.
Borrowing in two months to finance a five-month investment
B.
Borrowing in five months to finance a two-month investment
C.
Borrowing half a loan amount at two months and the remainder at five months
D.
Borrowing in two months to finance a three-month investment
解释:
ANSWER: B
An FRA defined as involves a forward rate starting at time and ending at time The buyer of this FRA locks in a borrowing rate for months 3 to 5. This is equivalent to borrowing for five months and reinvesting the funds for the first two months.
改成借了5个月前,只投资后三个月的意思对吗?