[{"data":1,"prerenderedAt":292},["ShallowReactive",2],{"chapter-deriv_prac-c1":3},{"examName":4,"chapter":5,"questions":10},"衍生性金融商品銷售人員資格測驗——衍生性金融商品概論與實務",{"name":6,"sort":7,"count":8,"slug":9},"衍生性商品概論",1,83,"c1",[11,16,20,24,28,32,36,40,44,48,52,56,60,64,68,72,76,80,84,88,92,96,100,104,108,112,116,121,124,127,131,134,137,140,143,146,149,152,155,158,161,164,167,170,173,176,179,182,185,188,191,194,198,201,204,208,211,214,217,219,222,225,228,231,234,237,240,243,246,249,252,255,258,261,264,267,270,273,276,279,283,286,289],{"id":12,"qno":13,"question":14,"session":15},"deriv_prac-18-017",17,"δ(Delta)變動所引發選擇權價值變動的風險，係指下列何者？","18",{"id":17,"qno":18,"question":19,"session":15},"deriv_prac-18-018",18,"結算前風險可以區分為現有違約風險及潛在違約風險，關於違約風險，下列敘述何者錯誤？",{"id":21,"qno":22,"question":23,"session":15},"deriv_prac-18-022",22,"臺灣市場上所稱之「連動債」或「結構債」，其本質係屬於下列何者？",{"id":25,"qno":26,"question":27,"session":15},"deriv_prac-18-024",24,"台灣的某家進口廠商預期在 3 個月後須支付一筆歐元 100,000，在無做任何避險交易下，廠商所擔心的是，屆時台幣將會作何變化？",{"id":29,"qno":30,"question":31,"session":15},"deriv_prac-18-025",25,"「利率上限」(interest rate cap)簡稱為 Cap，以下敘述何者為正確？",{"id":33,"qno":34,"question":35,"session":15},"deriv_prac-18-026",26,"證券商與銀行可以利用「資產交換」的方式，將可轉換公司債分解成哪兩大部分？",{"id":37,"qno":38,"question":39,"session":15},"deriv_prac-18-027",27,"保本型外幣組合式商品結構為：",{"id":41,"qno":42,"question":43,"session":15},"deriv_prac-18-028",28,"選擇權的避險參數 Theta 是描述何種參數變動對於選擇權價值的影響？",{"id":45,"qno":46,"question":47,"session":15},"deriv_prac-18-029",29,"某一股票基金與股票指數期貨的相關係數為 0.825，股票基金的標準差為 0.4，股票指數期貨的標準差為 0.3，請問在風險最小化之避險比率為何？",{"id":49,"qno":50,"question":51,"session":15},"deriv_prac-18-030",30,"20X1 年 12 月 20 日，甲公司向乙公司買入乙公司發行之 C 公司認購權證 1,000 單位，可以每股$ 70 認購 C 公司股票 1,000 股(每單位認購 1 股)，付出權利金$3,500，當時 C 公司股票每股市價為$71。試問買入時，該認購權證每單位之時間價值為何？",{"id":53,"qno":54,"question":55,"session":15},"deriv_prac-18-031",31,"選擇權之類型中，下列何者係指「買方有以特定價格賣出特定數量商品之權利，而賣方有應買的義務」？",{"id":57,"qno":58,"question":59,"session":15},"deriv_prac-18-032",32,"交易標的為利率之遠期契約(Forward Contract)係指下列何項衍生性金融商品？",{"id":61,"qno":62,"question":63,"session":15},"deriv_prac-18-033",33,"為了獲得高於相同天期債券的報酬，下列何者是設計「優利型」結構型商品所採取的策略？",{"id":65,"qno":66,"question":67,"session":15},"deriv_prac-18-034",34,"對於「以信用交換合成的 CDOs」、「以現貨資產合成的 CDOs」進行比較，下列敘述何者正確？",{"id":69,"qno":70,"question":71,"session":15},"deriv_prac-18-035",35,"下列何者不屬於信用衍生性商品？",{"id":73,"qno":74,"question":75,"session":15},"deriv_prac-18-036",36,"銀行間報價 USD：CHF 即期匯率 1.1856-66，兩個月期換匯點 0.0015-0.0022，若以直接匯率報價法，兩個月遠期匯率應為：",{"id":77,"qno":78,"question":79,"session":15},"deriv_prac-18-037",37,"請問下列何種因素改變將使外匯選擇權之賣權市價（權利金）上升？",{"id":81,"qno":82,"question":83,"session":15},"deriv_prac-18-038",38,"假設某投資人有歐元定存，欲敘作連結至美元的雙元組合式商品，請問本商品所連結的外幣選擇權為何？",{"id":85,"qno":86,"question":87,"session":15},"deriv_prac-18-039",39,"平均選擇權又被稱為下列何者？",{"id":89,"qno":90,"question":91,"session":15},"deriv_prac-18-040",40,"若一債息連動台灣加權股價指數的債券，其票面利率=3.5%+ [(付息前一日收盤股價指數-8500 點)\u002F10] bp，若付息前一日收盤股價指數為 8630 時，當期利率會是多少？",{"id":93,"qno":94,"question":95,"session":15},"deriv_prac-18-049",49,"信用風險的監控必須包含的資訊內容，不包括下列何者？",{"id":97,"qno":98,"question":99,"session":15},"deriv_prac-18-050",50,"選擇權的 Vega 風險是指下列何者？",{"id":101,"qno":102,"question":103,"session":15},"deriv_prac-18-051",51,"關於衍生性金融商品流動性風險，下列敘述何者錯誤？",{"id":105,"qno":106,"question":107,"session":15},"deriv_prac-18-052",52,"A 金融機構向 B 金融機構買進一個台股指數買權，在交易日當天 A 金融機構已經將權利金匯入 B 金融機構，請問下列敘述何者正確？",{"id":109,"qno":110,"question":111,"session":15},"deriv_prac-18-059",59,"一檔 1×4 的遠期利率契約，其約定利率為 7%，名目金額為 100 萬元。假設在契約到期時，市場利率為 8%。在一年360 天、每月為 30 天的條件下，則該遠期利率契約的交割金額約為何？",{"id":113,"qno":114,"question":115,"session":15},"deriv_prac-18-060",60,"一投資者買進區間 2%~6%的 3 年期區間計息債券(指標利率落入該區間才計息)共 500 萬，票面年利率 5%，若本期指標利率半年內(180 天)有 45 天未落入該區間，請問投資者本期可收到多少票息？",{"id":117,"qno":118,"question":119,"session":120},"deriv_prac-19-016",16,"關於市場風險管理，下列敘述何者正確？","19",{"id":122,"qno":13,"question":123,"session":120},"deriv_prac-19-017","市場利率變動所引發選擇權價值變動的風險是指：",{"id":125,"qno":18,"question":126,"session":120},"deriv_prac-19-018","在信用風險監控管理上，監控單位應適時將正確的信用風險資訊提供給相關單位，下列何者非屬重要的考量因素？",{"id":128,"qno":129,"question":130,"session":120},"deriv_prac-19-023",23,"就期貨價格和現貨價格的變動而言，下列何者具有領先變動的特性？",{"id":132,"qno":26,"question":133,"session":120},"deriv_prac-19-024","下列何種契約在交易上具有「風險與報酬不對稱」的特性？",{"id":135,"qno":30,"question":136,"session":120},"deriv_prac-19-025","有關遠期利率協定(FRA)的敘述，下列何者錯誤？",{"id":138,"qno":34,"question":139,"session":120},"deriv_prac-19-026","某一檔結構型債券的到期支付金額如下列公式：債券面額×〔0.9+0.5×選擇權價值〕。請問，此結構型債券為：",{"id":141,"qno":38,"question":142,"session":120},"deriv_prac-19-027","甲銀行發行以 S&P 500 股價指數為連結標的之 4 年期結構商品，票面利率 2%，每半年付息一次，到期償還金額公式： 面額×〔1 + 92.2%×Max (0, 8.5% - S&P 500 股價指數成長率)〕。到期償還金額公式可以看出，此商品連結的選擇權為：",{"id":144,"qno":42,"question":145,"session":120},"deriv_prac-19-028","衍生性商品之交易對手在履行交割義務前違約而造成的損失，可稱為：",{"id":147,"qno":46,"question":148,"session":120},"deriv_prac-19-029","關於結構型商品風險，下列敘述何者錯誤？",{"id":150,"qno":50,"question":151,"session":120},"deriv_prac-19-030","下列四種債券的票息的計息方式，何者為反浮動計息商品？",{"id":153,"qno":54,"question":154,"session":120},"deriv_prac-19-031","有關金融期貨之信用風險，下列敘述何者正確？",{"id":156,"qno":58,"question":157,"session":120},"deriv_prac-19-032","衍生性金融商品依契約區分的基本類型契約，不包括下列何者？",{"id":159,"qno":62,"question":160,"session":120},"deriv_prac-19-033","下列何者非為利率型相關衍生性金融商品？",{"id":162,"qno":66,"question":163,"session":120},"deriv_prac-19-034","如預期市場利率即將走升，應該如何操作？",{"id":165,"qno":70,"question":166,"session":120},"deriv_prac-19-035","下列何者不是利率選擇權之形式？",{"id":168,"qno":74,"question":169,"session":120},"deriv_prac-19-036","反向浮動債券在下列何種情況下能獲利？",{"id":171,"qno":78,"question":172,"session":120},"deriv_prac-19-037","有關匯率區間變動外幣保本型組合式商品，下列敘述何者正確？",{"id":174,"qno":82,"question":175,"session":120},"deriv_prac-19-038","假設某 100%保本型外幣組合式商品交易條件如下，90 天期美金存款利率=3.60%，本金=USD500,000，買入選擇權支出=USD2,500，銀行手續費=USD500，請問該商品最低收益率為何？",{"id":177,"qno":86,"question":178,"session":120},"deriv_prac-19-039","CBOT 之美國長天期中央政府公債期貨每口契約 10 萬美元，最小價格跳動點為 1\u002F32(%)，請問某投資人於市價 105-24買入美國政府長期債券期貨，三個月後並於 105-28 賣出，其損益狀況為何？",{"id":180,"qno":90,"question":181,"session":120},"deriv_prac-19-040","投資人承做雙元組合式商品（Dual Currency Investment），本金日圓 1,000 萬，連結貨幣為澳幣，轉換匯率為 80.00，到期匯率如低於 80.00，本金需轉換為澳幣。到期匯率為 77.00，請問到期時投資人取回本金之幣別及金額為何？",{"id":183,"qno":94,"question":184,"session":120},"deriv_prac-19-049","關於投資信用結構型商品(Collateralized Debt Obligation,CDO)，下列敘述何者錯誤？",{"id":186,"qno":98,"question":187,"session":120},"deriv_prac-19-050","有關衍生性商品法律風險，下列敘述何者錯誤？",{"id":189,"qno":102,"question":190,"session":120},"deriv_prac-19-051","關於風險值(Value at Risk)的敘述，下列何者正確？",{"id":192,"qno":106,"question":193,"session":120},"deriv_prac-19-052","殖利率曲線形狀改變的風險歸屬於下列何種風險？",{"id":195,"qno":196,"question":197,"session":120},"deriv_prac-19-058",58,"甲銀行以 5 元的權利金賣出一檔台積電的歐式買權給投資人，其履約價格為 120 元，買權到期時，台積電股價為 123元，在不考慮貨幣的時間價值下，請問甲銀行在此檔買權的損益為何？",{"id":199,"qno":110,"question":200,"session":120},"deriv_prac-19-059","若 A 公司發行一種浮動利率債券，並向銀行買進「利率上限」(interest rate cap)合約以保護未來利率上漲的風險。已知名目本金是 2,000 萬元，1 年後到期，標的利率是 3M TAIBOR，每 3 個月結算一次，上限利率(cap rate)為 3%。假設 3 個月後，3M TAIBOR 為 3.2%，則銀行應支付多少金額給 A 公司？",{"id":202,"qno":114,"question":203,"session":120},"deriv_prac-19-060","假設目前股價指數為 7200，一檔與股價指數連結的半年期優利型結構債券，其發行價格為$94.32。如果到期當天股價指數不超過 8000，此債券償還面額為$100，否則償還金額等於$100 × (8000\u002F到期股價指數)。若到期時指數為 8,200，則投資人的年報酬率大約為多少？",{"id":205,"qno":118,"question":206,"session":207},"deriv_prac-20-016","下列何者不屬於利率風險？","20",{"id":209,"qno":13,"question":210,"session":207},"deriv_prac-20-017","衡量流動性風險的最佳指標為：",{"id":212,"qno":18,"question":213,"session":207},"deriv_prac-20-018","銀行與客戶簽訂美元兌新臺幣遠期外匯合約，約定 6 個月後客戶可以匯率$33 買進 100 萬美元，客戶繳了新臺幣 75萬元保證金，如果美元兌臺幣匯率升到$34.5，則銀行面對之當期暴險額(current exposure)為何？",{"id":215,"qno":129,"question":216,"session":207},"deriv_prac-20-023","貨幣相同，浮動利率對浮動利率的交換稱為下列何者？",{"id":218,"qno":26,"question":136,"session":207},"deriv_prac-20-024",{"id":220,"qno":30,"question":221,"session":207},"deriv_prac-20-025","買進利率上下限(interest rate collar)，下列敘述何者正確？",{"id":223,"qno":34,"question":224,"session":207},"deriv_prac-20-026","「鎖住利差交換」(Spread-lock Swap)之「利差」係指下列何項？",{"id":226,"qno":38,"question":227,"session":207},"deriv_prac-20-027","下列何者是各類型之選擇權其權利金由低至高的排列順序？",{"id":229,"qno":42,"question":230,"session":207},"deriv_prac-20-028","有關遠期外匯交易之報價方式的敘述，下列何者正確？",{"id":232,"qno":46,"question":233,"session":207},"deriv_prac-20-029","根據交換(Swap)市場的慣例，「支付固定利率，收取浮動利率」的投資人係指利率交換的：",{"id":235,"qno":50,"question":236,"session":207},"deriv_prac-20-030","某一檔債券的利息為每年支付一次，利息支付的金額為根據下列公式：3 個月 TAIBOR + 2.15%，則此債券為：",{"id":238,"qno":54,"question":239,"session":207},"deriv_prac-20-031","王小明期初花了 5 元的權利金買入一檔台積電的歐式買權，其履約價格為 120 元，買權到期時，台積電股價為 130元，在不考慮時間價值下，請問王小明在此檔買權的投資損益為何？",{"id":241,"qno":58,"question":242,"session":207},"deriv_prac-20-032","關於期貨與選擇權契約，下列敘述何者錯誤？",{"id":244,"qno":62,"question":245,"session":207},"deriv_prac-20-033","有關遠期契約之信用風險，下列敘述何者正確？",{"id":247,"qno":66,"question":248,"session":207},"deriv_prac-20-034","優利型外匯結構型產品是透過外幣定期存款與何種匯率選擇權之組合，又，若到期為價內，投資人最可能會遇到下列何種情境？",{"id":250,"qno":70,"question":251,"session":207},"deriv_prac-20-035","期貨交易中，市價申報與限價申報二者以何種優先撮合？",{"id":253,"qno":74,"question":254,"session":207},"deriv_prac-20-036","若買進一口台指選擇權賣權，並同時賣出一口相同到期日、相同履約價的台指選擇權買權，該組合部位的到期損益型態近似於下列何種交易部位？",{"id":256,"qno":78,"question":257,"session":207},"deriv_prac-20-037","下列何種市場行情的變動會使投資人產生或有損失？",{"id":259,"qno":82,"question":260,"session":207},"deriv_prac-20-038","當投資人買入股價選擇權之賣權時，股價變動的方向何者對其有利？",{"id":262,"qno":86,"question":263,"session":207},"deriv_prac-20-039","關於選擇權，下列敘述何者正確？",{"id":265,"qno":90,"question":266,"session":207},"deriv_prac-20-040","某券商發行了一個 1 年期結構型債券，發行價為 94%，該債券到期償還金額 = 面額 × [1+95% × Max(0,台灣加權指數年成長率-20%)]，若投資人購買上述債券，1 年後的年報酬率至少會是多少？",{"id":268,"qno":94,"question":269,"session":207},"deriv_prac-20-049","選擇權的 Delta 風險係指下列何者？",{"id":271,"qno":98,"question":272,"session":207},"deriv_prac-20-050","下列何者不屬於選擇權風險的衡量方法？",{"id":274,"qno":102,"question":275,"session":207},"deriv_prac-20-051","一般金融機構對於市場風險所採行限額控制方式，下列何者不在其中？",{"id":277,"qno":106,"question":278,"session":207},"deriv_prac-20-052","信用風險的控制可採質與量的控制，其中量的控制著重於事後風險暴露程度的管理，而監控的單位是負責適時將正確的信用風險資訊提供給高級主管及相關單位，下列何者不是監控單位應提供的資訊內容？",{"id":280,"qno":281,"question":282,"session":207},"deriv_prac-20-053",53,"結算前風險係屬於何種風險？",{"id":284,"qno":196,"question":285,"session":207},"deriv_prac-20-058","某一檔債券允許發行銀行於債券發行滿一年之後，可以隨時將債券買回，向投資人買回的金額訂為：債券面額×〔1+4.5%〕。此債券相當於提供給發行銀行一個：",{"id":287,"qno":110,"question":288,"session":207},"deriv_prac-20-059","已知目前美元的即期匯率為 33.00 新臺幣，3 個月期的美元利率為 1.2%，3 個月期的新臺幣利率為 1.0%，則 3 個月期的美元遠期匯率為多少？",{"id":290,"qno":114,"question":291,"session":207},"deriv_prac-20-060","一檔兩年期之保本零息債券以 100 元名目本金發行，到期時的本金償還計算公式如下︰本金償還金額 ＝ 面額 ×〔1＋75% ×Max（0,股價指數成長率）〕。若這兩年期間，標的股價指數由發行當時的 450 點上升至 600 點，則投資人損益為何？",1785157761602]