[{"data":1,"prerenderedAt":47},["ShallowReactive",2],{"q-futures_prac-115-2-012":3},{"exam":4,"examName":5,"chapterSlug":6,"question":7,"related":22},"futures_prac","期貨商業務員資格測驗——期貨交易理論與實務","c3",{"id":8,"exam":4,"session":9,"qno":10,"question":11,"options":12,"answer":17,"chapter":18,"freq":19,"explanation":20,"difficulty":21},"futures_prac-115-2-012","115-2",12,"於實際應用上，利用線性迴歸式來估計最小風險避險比例，即：△S＝a＋b△F＋誤差項。其中△ S 與△F 分別為現貨與期貨價格變動，a 與 b 分別為係數。其中誤差項的變異數可以被視為：",[13,14,15,16],"現貨部位風險","期貨部位風險","市場風險","基差風險",3,"避險交易",1,"這條迴歸式以期貨價格變動解釋現貨價格變動，斜率 b 即最小風險避險比率。避險後的損益等於現貨變動扣掉 b 倍的期貨變動，剩下的正是迴歸解釋不了的誤差項；換句話說，誤差項就是避險後仍殘留、源自現貨與期貨價格未能完全同步的部分，其變異數即為基差風險，故 (D) 正確。(A) 現貨部位風險是避險前的總風險，(B) 期貨部位風險由 b 倍的期貨變動承擔，(C) 市場風險已被期貨部位抵銷，都不是誤差項的內容。","medium",[23,27,31,35,39,43],{"id":24,"question":25,"qno":26},"futures_prac-114-3-006","下列敘述哪一項是正確的？",6,{"id":28,"question":29,"qno":30},"futures_prac-114-3-007","券商若發行指數型認購權證（Call Warrant），可在指數上漲時如何操作指數期貨避險？",7,{"id":32,"question":33,"qno":34},"futures_prac-114-3-008","最小風險避險比例（最佳避險比例）的估計式為 h，例如 h＝－0.5，試問「－」符號之意義為何？",8,{"id":36,"question":37,"qno":38},"futures_prac-114-3-009","智利礦商賣出銅期貨避險，何者會造成避險的不完全？",9,{"id":40,"question":41,"qno":42},"futures_prac-114-3-010","某廠商必須進口小麥，為了避險買進了 10 口小麥期貨，每口契約規格為 5,000 蒲氏爾(Bushels)。若基差由+40 美分放大為+60 美分，則避險的損益為何？",10,{"id":44,"question":45,"qno":46},"futures_prac-114-3-031","臺灣企業在瑞士發行以美元 SOFR 計息的浮動利率美元債券，如要確定每次付息的新臺幣金額，該企業應操作：",31,1785904151836]