[{"data":1,"prerenderedAt":47},["ShallowReactive",2],{"q-futures_prac-115-1-025":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-115-1-025","115-1",25,"如果目前基差(Basis)為-10，未來基差一定會變成 20，下列何種交易策略將會保證獲利？",[13,14,15,16],"購買期貨","購買標的資產","購買期貨並賣空標的資產","出售期貨並購買標的資產",3,"避險交易",1,"基差定義為現貨價格減期貨價格，本題基差由−10上升到+20，代表基差走強(轉強)。能從基差走強穩定獲利的組合，是買進現貨(標的資產)同時賣出期貨，因為此策略的損益恰等於基差的變動幅度:20減去−10等於正30，基差走強即保證獲利，故(D)出售期貨並購買標的資產正確。(A)單純購買期貨與(B)單純購買標的資產都是單邊部位，仍暴露在絕對價格漲跌的風險中，無法靠基差變動鎖定獲利。(C)購買期貨並賣空標的資產的方向與(D)完全相反，其損益等於基差變動的負值，基差走強時反而虧損30，故皆不選。正解為(D)。","hard",[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：",31,1787293966348]