超星 - 第十四周作业

判断题

“爱子，教之以义方”，“爱之不以道，适所以害之也”说明家庭环境对下一代的影响很大，往往可以影响一个人的一生。

A. 对
B. 错

单选题

甲乙订立借款合同一份，作如下约定：甲借给乙1万元，乙交付甲一套黄金饰品作质押担保，3年后乙归还本金，甲归还该饰品。如乙到期无力还款，则该饰品归甲所有。下列说法中正确的是（）。

A. 甲乙之间关于“如乙无力还款，则该饰品归甲所有”的约定无效
B. 因甲乙之间关于“如乙无力还款，则该饰品归甲所有”的约定无效，故担保合同无效
C. 因甲乙之间的担保合同无效，故其借款合同无效
D. 担保合同的全部条款有效，故甲乙之间的借款合同有效

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多选题

陈某租住王某的房屋，租期至2010年8月。王某欠陈某10万元货款，应于2010年7月偿付。至2010年8月，王某尚未清偿货款，但要求收回房屋并请求陈某支付1万元租金。根据《合同法》与《担保法》的规定，下列表述中不正确的有（）。

A. 陈某可以留置该房屋作为担保
B. 陈某可以出售该房屋并优先受偿
C. 陈某可以以应付租金抵销1万元货款
D. 陈某可以行使同时履行抗辩权而不交还房屋

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单选题

When valuing a call option using the binomial model, an increase in the probability that the underlying will go up, most likely implies that the current price of the call option:

A. remains unchanged.
B. decreases.
C. increases.

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单选题

Which of the following terms directly represents the volatility of the underlying in the binomial model?

A. The standard deviation of the underlying
B. The difference between the up and down factors
C. The ratio of the underlying value to the exercise price.

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单选题

To determine the price of an option today, the binomial model requires:

A. selling one put and buying one offsetting call.
B. buying one unit of the underlying and selling one matching call.
C. using the risk-free rate to determine the required number of units of the underlying.

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单选题

Assume a call option’s strike price is initially equal to the price of its underlying asset. Based on the binomial model, if the volatility of the underlying decreases, the lower of the two potential payoff values of the hedge portfolio:

A. decreases.
B. remains the same.
C. increases.

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单选题

Identify the trading strategy that will generate the payoffs of taking a long position in a put option within a single-period binomial framework.

A. Short sell $–h = –(p^+ – p^–)/(S^+ – S^–)$ units of the underlying and financing of $–PV(–hS^– + p^–)$
Buy $–h = (p^+ – p^–)/(S^+ – S^–)$ units of the underlying and financing of $– PV(–hS^– + p^–)$
C. Short sell $h = (p^+ – p^–)/(S^+ – S^–)$ units of the underlying and financing of $+PV(–hS^– + p^–) $

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单选题

Hedging in the futures market

A. eliminates the opportunity for gains.
B. eliminates the opportunity for losses.
C. increases the earnings potential of the portfolio.
D. does all of the above.
E. does both A and B of the above.

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单选题

Which of the following is not a factor in pricing a call option in the binomial model?

A. The risk- free rate
B. The exercise price
C. The probability that the underlying will go up

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