[{"data":1,"prerenderedAt":47},["ShallowReactive",2],{"q-futures_prac-115-1-013":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-115-1-013","115-1",13,"小宜持有美國長期公債部位時，若預期油價將會上漲時，下列避險策略何者較為有效？",[13,14,15,16],"買進指數期貨","放空美國國庫券期貨","買進美國長期公債期貨","放空美國長期公債期貨",3,"避險交易",1,"小宜持有美國長期公債部位，最怕的是債券價格下跌。油價上漲通常帶動通膨預期升溫，促使市場利率往上走，而債券價格與利率反向,利率上揚會使長期公債價格下跌，讓她的現貨部位受損。要對沖這個風險，應放空與其現貨最貼近的美國長期公債期貨，一旦公債下跌、空頭期貨獲利即可彌補現貨損失，故(D)正確。(C)買進公債期貨是做多、方向與現貨相同，利率上升時反而擴大虧損。(B)國庫券屬短天期利率商品，存續期間短、對長債利率風險的對沖效果差、基差風險大。(A)股價指數期貨對沖的是股市系統風險，與長債的利率風險並無直接對應，故皆不選。","medium",[23,27,31,35,39,43],{"id":24,"question":25,"qno":26},"futures_prac-114-3-006","下列敘述哪一項是正確的？",6,{"id":28,"question":29,"qno":30},"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":32,"question":33,"qno":34},"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":36,"question":37,"qno":38},"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":40,"question":41,"qno":42},"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":44,"question":45,"qno":46},"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：",31,1787293966172]