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Basic Question 2 of 13
The insurance theory assumes that the futures curve ______
B. is in contango normally.
C. can fluctuate between contango and backwardation in the long term.
A. is in backwardation normally.
B. is in contango normally.
C. can fluctuate between contango and backwardation in the long term.
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Learning Outcome Statements
describe how commodity swaps are used to obtain or modify exposure to commodities;
describe how the construction of commodity indexes affects index returns.
CFA® 2025 Level II Curriculum, Volume 5, Module 33.