[{"data":1,"prerenderedAt":47},["ShallowReactive",2],{"q-futures_prac-114-3-006":3},{"exam":4,"examName":5,"chapterSlug":6,"question":7,"related":22},"futures_prac","期貨商業務員資格測驗——期貨交易理論與實務","c3",{"id":8,"exam":4,"session":9,"qno":10,"question":11,"options":12,"answer":17,"chapter":18,"freq":19,"explanation":20,"difficulty":21},"futures_prac-114-3-006","114-3",6,"下列敘述哪一項是正確的？",[13,14,15,16],"期貨到期時基差為負值","期貨到期時基差為正值","期貨到期時基差為零","視當時市場狀況決定",2,"避險交易",1,"基差定義為現貨價格減去期貨價格。隨著期貨接近到期，因交割機制使期貨價格逐步向現貨價格靠攏（即收斂現象），到期交割當下兩者理論上相等，相減後基差為零，故(C)正確。在到期日之前，基差會因持有成本、供需與市場預期而變動，可能為正（正常市場）或為負（逆價市場），所以(A)期貨到期時基差為負值與(B)期貨到期時基差為正值都不是到期時的必然結果。(D)視當時市場狀況決定描述的是到期前的情況，到期日基差必歸零並非不確定，故(A)(B)(D)皆不選。","easy",[23,27,31,35,39,43],{"id":24,"question":25,"qno":26},"futures_prac-114-3-007","券商若發行指數型認購權證（Call Warrant），可在指數上漲時如何操作指數期貨避險？",7,{"id":28,"question":29,"qno":30},"futures_prac-114-3-008","最小風險避險比例（最佳避險比例）的估計式為 h，例如 h＝－0.5，試問「－」符號之意義為何？",8,{"id":32,"question":33,"qno":34},"futures_prac-114-3-009","智利礦商賣出銅期貨避險，何者會造成避險的不完全？",9,{"id":36,"question":37,"qno":38},"futures_prac-114-3-010","某廠商必須進口小麥，為了避險買進了 10 口小麥期貨，每口契約規格為 5,000 蒲氏爾(Bushels)。若基差由+40 美分放大為+60 美分，則避險的損益為何？",10,{"id":40,"question":41,"qno":42},"futures_prac-114-3-031","臺灣企業在瑞士發行以美元 SOFR 計息的浮動利率美元債券，如要確定每次付息的新臺幣金額，該企業應操作：",31,{"id":44,"question":45,"qno":46},"futures_prac-114-3-032","小華預期股票市場將上漲，同時預期一部分股票將下跌，小華應如何降低此部分股票對於賺取市場上漲報酬的負面影響？",32,1787293965381]