- CFA Exams
- CFA Level I Exam
- Topic 7. Derivatives
- Learning Module 6. Pricing and Valuation of Futures Contracts
- Subject 1. Why do Forward and Futures Prices Differ?
CFA Practice Question
If futures prices are positively correlated with interest rates, which derivatives will be more desirable to holders of long positions?
B. Futures contracts
C. None
A. Forward contracts
B. Futures contracts
C. None
Correct Answer: B
Rising prices lead to futures profits, which can be reinvested in periods of rising interest rates. Losses occur in periods of falling interest rates.
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