NO.PZ2018062007000072
问题如下：
Which of the following combinations replicates a long derivative position?
选项：
A.
A short derivative and a long asset
B.
A long asset and a short risk- free bond
C.
A short derivative and a short risk- free bond
解释：
B is correct. A long asset and a short risk- free asset (meaning to borrow at the risk- free rate) can be combined to produce a long derivative position.
A is incorrect because a short derivative and a long asset combine to produce a position equivalent to a long risk- free bond, not a long derivative.
C is incorrect because a short derivative and a short risk- free bond combine to produce a position equivalent to a short asset, not a long derivative.
中文解析：
本题考察的是合成一个long derivative头寸，如下图红线框出来的部分，选B 。
这个看不懂。买卖概念有点混乱，能具体解释一下吗。讲义里也没看到这个公式
