国际金融IFinanceTestBank文档格式.docx

1、purchase Canadian dollar futures contracts.c.purchase Canadian dollar put options.d.purchase Canadian dollar call options.ANS: C PTS: 1 2. Graylon, Inc., based in Washington, exports products to a German firm and will receive payment of 200,000 in three months. On June 1, the spot rate of the euro w

2、as $1.12, and the 3-month forward rate was $1.10. On June 1, Graylon negotiated a forward contract with a bank to sell 200,000 forward in three months. The spot rate of the euro on September 1 is $1.15. Graylon will receive $_ for the euros.224,000220,000200,000230,000 BSOLUTION:200,000 $1.10 = $220

3、,000PTS: 3. The one-year forward rate of the British pound is quoted at $1.60, and the spot rate of the British pound is quoted at $1.63. The forward _ is _ percent.discount; 1.9 1.8premium;（F/S） 1 = （$1.60/$1.63） 1 = 1.8 percent. 4. The 90-day forward rate for the euro is $1.07, while the current s

4、pot rate of the euro is $1.05. What is the annualized forward premium or discount of the euro?1.9 percent discount.1.9 percent premium.7.6 percent premium.7.6 percent discount. C（F/S） 1 360/90 = 7.6 percent. 5. Thornton, Inc. needs to invest five million Nepalese rupees in its Nepalese subsidiary to

5、 support local operations. Thornton would like its subsidiary to repay the rupees in one year. Thornton would like to engage in a swap transaction. Thus, Thornton would:convert the rupees to dollars in the spot market today and convert rupees to dollars in one year at todays forward rate.convert the

6、 dollars to rupees in the spot market today and convert dollars to rupees in one year at the prevailing spot rate.convert the dollars to rupees in the spot market today and convert rupees to dollars in one year at todayconvert the dollars to rupees in the spot market today and convert rupees to doll

7、ars in one year at the prevailing spot rate. 6. In the U.S., the typical currency futures contract is based on a currency value in terms of:euros.U.S. dollars.British pounds.Canadian dollars. B PTS: 7. Currency futures contracts sold on an exchange:contain a mitment to the owner, and are standardize

8、d.contain a mitment to the owner, and can be tailored to the desire of the owner.contain a right but not a mitment to the owner, and can be tailored to the desire of the owner.contain a right but not a mitment to the owner, and are standardized. A PTS: 8. Currency options sold through an options exc

9、hange: D PTS: 9. Currency options are monly traded through the _ system.robotEuroGLOBEXScope 10. Forward contracts: 11. Which of the following is the most likely strategy for a U.S. firm that will be receiving Swiss francs in the future and desires to avoid exchange rate risk （assume the firm has no

10、 offsetting position in francs）?purchase a call option on francs.sell a futures contract on francs.obtain a forward contract to purchase francs forward.all of the above are appropriate strategies for the scenario described. 12. Which of the following is the most unlikely strategy for a U.S. firm that will be purchasing Swiss francs in the future and desires to avoid exchange rate risk （assume the firm has no offsetting position in francs）? 13. If your firm e