选项A没懂

问题如下：

Fourie is discussing forward contracts with Patrick Jacob, a new risk analyst at Global Bullion. Jacob is asking about similarities and differences between forward and futures contracts. Fourie makes the following comments to Jacob:

Comment 1 If you are long a futures or forward contract and the price of the underlying has risen, the value of a futures contract is most likely lower than that of the equivalent forward contract.

Comment 2 Forward contracts are marked to market each day, whereas futures contracts are not.

Comment 3 The market value of both futures and forward contracts at initia­tion is zero.

Which of Fourie’s comments to Jacob is least likely accurate?

选项：

A.

Comment 1

B.

Comment 2

C.

Comment 3

解释：

Fourie’s second comment to Jacob regarding marking to market is incorrect. Futures contracts are marked to market each day, whereas forward contracts are not. Comments 1 and 3 are accurate.

A is incorrect. Fourie’s first comment is accurate. Because futures contracts are marked to market daily, profits are paid out and the value is reset to zero. As a result if you are long a contract and the price has risen, the forward contract will likely have a higher value than the futures contract.

C is incorrect. Fourie’s last comment is accurate. The market value of both futures and forward contracts at initiation is zero.