[{"data":1,"prerenderedAt":47},["ShallowReactive",2],{"q-futures_prac-115-2-013":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-115-2-013","115-2",13,"發財公司計畫在未來 6 個月內需要一筆 100 萬美元資金，並向銀行借款 100 萬美元，期間 6 個月，利息則以 3 個月 SOFR 加碼 50bps 計算，而每 3 個月支付一次利息，但是發財公司擔心利率上升而增加借款成本，請問發財公司應如何避險？",[13,14,15,16],"買進 1 口 SOFR 期貨","買進 1 口長期公債期貨","放空 1 口 SOFR 期貨","放空 1 口長期公債期貨",2,"避險交易",1,"發財公司借的是浮動利率資金，利息按三個月 SOFR 加碼計息，利率上升就是它要防的風險。SOFR 期貨採一百減利率的方式報價，利率上升時期貨價格下跌，因此放空 SOFR 期貨可在利率走高時獲利，用來抵銷增加的利息支出，故 (C) 正確。(A) 買進 SOFR 期貨是押注利率下跌，利率一漲反而兩頭賠。(B) 買進長期公債期貨同樣看空利率，方向相反。(D) 放空公債期貨方向雖對，但標的是長天期利率，與三個月 SOFR 連動較差，避險效果不如直接用 SOFR 期貨。","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：",31,1785904151846]