NO.PZ2016031201000006
问题如下：
Which of the following derivatives provide payoffs that are non-linearly related to the payoffs of the underlying?
选项：
A. Options
B. Forwards
C. Interest-rate swaps
解释：
A is correct.
Options are classified as a contingent claim which provides payoffs that are non-linearly related to the performance of the underlying.
B is incorrect because forwards are classified as a forward commitment, which provides payoffs that are linearly related to the performance of the underlying. C is incorrect because interest-rate swaps are classified as a forward commitment, which provides payoffs that are linearly related to the performance of the underlying.
题目做对了 也记住了 但是线性非线性的概念模糊的 能讲解一下吗