NO.PZ2016010802000201
问题如下：
In order to minimize the foreign exchange exposure on a euro-denominated receivable due from a German company in 100 days, a British company would most likely initiate a:
选项：
A. spot transaction.
B. forward contract.
C. real exchange rate contract.
解释：
B is correct.
The receivable is due in 100 days. To reduce the risk of currency exposure, the British company would initiate a forward contract to sell euros/buy pounds at an exchange rate agreed to today. The agreed-upon rate is called the forward exchange rate.
考点：forward contract
解析：因为100天后，这些票据就可以收回。为了降低汇率风险，英国公司将发起一项远期合约，以锁定汇率。
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