NO.PZ2023040401000038
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.
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