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Basic Question 1 of 13

The theory of storage predicts ______ relationship between the level of inventories and the convenience yield.

A. a direct
B. an inverse
C. no

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Edward Liu

Edward Liu

Learning Outcome Statements

compare theories of commodity futures returns;

describe, calculate, and interpret the components of total return for a fully collateralized commodity futures contract;

contrast roll return in markets in contango and markets in backwardation;

CFA® 2024 Level II Curriculum, Volume 5, Module 39.