单项选择题

The process that ensures that two securities positions with identical future payoffs, regardless of future events, will have the same price is called:

A．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>A. arbitrage. </TD></TR></TBODY></TABLE>
B．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>B. the law of one price. </TD></TR></TBODY></TABLE>
C．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>C. payoff parity.</TD></TR></TBODY></TABLE>

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单项选择题

Which of the following contracts is least likely to be traded on an exchange

A．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>A. Futures contract. </TD></TR></TBODY></TABLE>
B．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>B. Forward commitment. </TD></TR></TBODY></TABLE>
C．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>C. Forward contract.</TD></TR></TBODY></TABLE>

单项选择题

The profit loss diagram for a covered call strategy looks like what other type of profit loss diagram

A．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>A. Short call. </TD></TR></TBODY></TABLE>
B．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>B. Long call. </TD></TR></TBODY></TABLE>
C．<TABLE border=0 cellSpacing=0 cellPadding=0 width="90%"><TBODY><TR><TD vAlign=top>C. Short put.</TD></TR></TBODY></TABLE>