CFA一級考試中10個(gè)科目的學(xué)習(xí)都是很重要的，今天小編給你講講CFA一級中的衍生品，你知道它考什么知識嘛？CFA一級中衍生品考題如何？
CFA一級衍生品投資（Derivatives Investments）科目在總科目知識中的占比是5%-8%，主要涵蓋衍生品市場及衍生工具、衍生品定價(jià)與估值基礎(chǔ)等知識，考生可以收獲了解衍生品的種類和特點(diǎn)，為資產(chǎn)配置提供多樣化選擇。那考試題是如何出題的呢？小編給你說說！
For a forward contract on an asset that has no costs or benefits from holding it to have zero value at initiation, the arbitrage-free forward price must equal:
A the expected future spot price.
B the future value of the current spot price.
C the present value of the expected future spot price.
【答案及解析】B For an asset with no holding costs or benefits, the forward price must equal the future value of the current spot price, compounded at the risk-free rate over the term of the forward contract, for the contract to have a value of zero at initiation. Otherwise an arbitrage opportunity would exist.
【核心詞匯】：arbitrage-free pricing/valuation:無套利定價(jià)
是指正確估計(jì)國債不同時(shí)期現(xiàn)金流的價(jià)值（等于市場價(jià)）的當(dāng)期利率。將其可以繪制成理論國債即期利率曲線（theoretical Treasury spot-rate curve）
