"Derivative"exercise:Forward contract
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Questions 1:
The price of a forward contract most likely:
A 、decreases as the price of the underlying goes up.
B、 is constant and set as part of the contract specifications.
C 、increases as market risk increases.
Questions 2:
Which of the following statements best describes changes in the value of a long forward position during its life?
A、 As the time to maturity goes down, the value of the position goes up.
B 、As the price of the underlying goes up, the value of the position goes up.
C、 As interest rates go down, the value of the position goes up.
B is correct. The price of a forward contract remains constant throughout the life of the contract. It is set as part of the contract specifications.
A is incorrect. The price of a forward contract is not affected by market conditions. It is set as part of the contract specifications.
C is incorrect. The price of a forward contract is not affected by market conditions. It is set as part of the contract specifications.
B is correct. Given the formula for the value of a forward contract:
it follows that the value of the contract goes up as the price of the underlying goes up.
A is incorrect. As the time to maturity goes down, the value of the contract goes down.
C is incorrect. As interest rates go down, the value of the contract goes down.
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