Derivatives Workbook by Wendy L. Pirie

By Wendy L. Pirie

Apply functional derivatives wisdom to actually try out your understanding

Derivatives Workbook deals useful guide for college students and pros looking extra suggestions on operating with derivatives tools. Created through CFA Institute as a better half to the great Derivatives textual content, this publication is helping you perform utilizing what you might have discovered via difficulties that mimic real-world eventualities. operating with assorted derivatives tools is helping you gauge how good you already know the tools' features, either shared and certain; this intimate wisdom is key to potent portfolio administration, and this e-book offers an expertly-designed, low-stakes surroundings perfect for self-assessment.

Derivatives—financial tools that derive their price from the worth of a few underlying asset—have develop into more and more vital for potent probability administration, and basic for developing man made exposures to asset periods. no matter if you are a scholar desiring to a occupation in finance, or a qualified looking a higher ability set, this workbook is a useful device for simulating using derivatives in daily perform.

  • Work extra successfully with types of spinoff instruments
  • Master the valuation of ahead, destiny, strategies, and change contracts
  • Utilize ideas for possibility administration and portfolio optimization
  • Explore the sensible elements of operating in the derivatives markets

As in different safety markets, arbitrage and industry potency play a serious function in spinoff pricing. The specialists at CFA Institute realize the necessity for sensible, useful derivatives education that interprets good into real-world perform; this workbook fills the distance with a wealth of perform difficulties that experience price to either aspiring and working towards funding pros. Derivatives Workbook offers authoritative education and complete functional guide on by-product tools, their markets, and valuation.

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Sample text

How can the VaR figure best be interpreted? What additional measures might the organization take to increase the accuracy of its overall exposure assessments? Indicate which of the following statements about credit risk is (are) false, and explain why. A. Because credit losses occur often, it is easy to assess the probability of a credit loss. B. , third) party. C. Like the buyer of a European-style option, the buyer of an American-style option faces no current credit risk until the expiration of the option.

Nonfinancial risk refers to all other forms of risk. Financial risk includes market risk (risk related to interest rates, exchange rates, stock prices, and commodity prices), credit risk, and liquidity risk. The primary sources of nonfinancial risk are operations risk, model risk, settlement risk, regulatory risk, legal risk, tax risk, and accounting risk. • Traditional measures of market risk include linear approximations such as beta for stocks, duration for fixed income, and delta for options, as well as second-order estimation techniques such as convexity and gamma.

53. 15. 32. Which of Sousa’s statements about binomial models is correct? Statement 2 only C. Both Statement 1 and Statement 2 8. 5,251. 6,236. 6,429. Which of Sousa’s reasons for the decrease in the value of the interest rate option is correct? Reason 2 only C. Both Reason 1 and Reason 2 The following information relates to Questions 10–18 Trident Advisory Group manages assets for high-net-worth individuals and family trusts. Alice Lee, chief investment officer, is meeting with a client, Noah Solomon, to discuss risk management strategies for his portfolio.

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