financing costs是rf么？

问题如下：

According to the carry arbitrage model, forward contract prices decrease when:

选项：

A.A.carry costs increase. B.B.carry benefits increase. C.C.financing costs increase.

解释：

A Incorrect because carry costs increase the forward price, rather than decreasing it. The arbitrageur is carrying the underlying, and costs increase the burden whereas benefits decrease the burden.

B Correct because the carry arbitrage model provides an approach for both pricing and valuing forward contracts.

F₀ = FV(S₀ + CC₀ – CB₀) (Forward pricing)

Carry costs (CC) and financing costs increase the forward price, and carry benefits (CB) decrease the forward price. The arbitrageur is carrying the underlying, and costs increase the burden whereas benefits decrease the burden.

C Incorrect because financing costs increase the forward price, rather than decreasing it. The arbitrageur is carrying the underlying, and costs increase the burden whereas benefits decrease the burden.