CIA考试报考及预约平台是什么

You can choose the following methods to exit an option position except to ______.

A．exercise the option

B．pay the premium

C．offset a deal

D．let it expire

A derivative is a security which "derives" its value from another underlying (61) instrument, index, or other investment. Derivatives are available based on the performance of stocks, interest rates, currency exchange rates, as well as (62) contracts and various indexes. Derivatives give the buyer greater leverage for a (63) cost than purchasing the actual underlying instrument to achieve the same position. For this reason, when used properly, they can serve to "hedge" a (64) of securities against losses. However, because derivatives have a date of (65) , the level of risk is greatly increased in relation to their term. One of the simplest forms of a derivative is a stock option. A stock option gives the holder the right to buy or sell the underlying stock at a fixed price for a specified period of time.

(46)

A．bank

B．financial

C．mathematic

D．securities

______ are essentially involved to a cheque.

A．Drawer, drawee, and payer

B．Holder, drawer, and payer

C．Payee, drawer, and drawee

D．Payee, drawee, and holder

You are requested to send us ______ to authenticate the cable L/C issued by your bank in the future.

A．your specimen signatures book

B．your telegraphic test key

C．your tariffs

D．your terms and conditions