CFA考试《CFA一级》历年真题精选及详细解析1107-11

CFA考试《CFA一级》历年真题精选及详细

解析1107-11

1、A commodity market is in contango when futures prices are:【单选题】

A.lower than the spot price.

B.higher than the spot price.

C.the same as the spot price.

正确答案:B

答案解析:“Investing in Commodities”, Global Perspectives on Investment Management: Learning from the Leaders, edited by Rodney N. Sullivan, CFA

2011 Modular Level I, Volume 6, pp. 262

Study Session 18-75-a

Explain the relationship between spot prices and expected future prices in terms of contango and backwardation.

B is correct. When a commodity market is in contango, futures prices are higher than the spot price because market participants believe the spot price will be higher in the future. 2、When analyzing the value of a single normally distributed populations variance,the most appropriate test is a(n) :【单选题】