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学习Commodity Forwards and Futures,考生对于FRM能掌握哪些内容?

Commodity Forwards and Futures是FRM一级考试的内容,是商品远期和期货的意思。现阶段,考生正在紧张的备考5月FRM考试,对于这个内容,千万不能忽视。掌握相关的内容不仅对通过考试有帮助,对于以后日常工作也是有帮助的!具体考生能掌握住哪些内容呢?》》》戳:各科视频讲义+历年真题+21年原版书(PDF版)免·费领取

After completing this reading, you should be able to:

• Explain the key differences between commodities and financial assets.

• Define and apply commodity concepts such as storage costs, carry markets, lease rate, and convenience yield.

• Identify factors that impact prices on agricultural commodities, metals, energy, and weather derivatives.

• Explain the basic equilibrium formula for pricing commodity forwards.

• Describe an arbitrage transaction in commodity forwards and compute the potential arbitrage profit.》》》点击咨询FRM特惠课程

• Define the lease rate and explain how it determines the no-arbitrage values for commodity forwards and futures.

• Describe the cost of carry model and determine the impact of storage costs and convenience yields on

commodity forward prices and no-arbitrage bounds.

• Compute the forward price of a commodity with storage costs.

• Compare the lease rate with the convenience yield.

• Explain how to create a synthetic commodity position and use it to explain the relationship between the forward price and the expected future spot price.

• Explain the relationship between current futures prices and expected future spot prices, including the impact of systematic and nonsystematic risk.

• Define and interpret normal backwardation and contango.

完成阅读后,您应该能够:

•解释商品和金融资产之间的主要区别。

•定义和应用商品概念,如存储成本、运输市场、租赁率和便利收益率。

•确定影响农产品、金属、能源和天气衍生品价格的因素。

•解释商品远期定价的基本均衡公式。

•描述商品远期的套利交易,并计算潜在的套利利润。

•定义租赁利率并解释其如何确定商品远期的无套利价值还有未来。【资料下载】点击下载融跃教育金融专业英语词汇大全.pdf

•描述运输成本模型,并确定存储成本和便利收益率对运输成本的影响商品远期价格和无套利边界。

•用存储成本计算商品的远期价格。

•将租赁率与便利收益率进行比较。

•解释如何创建综合商品头寸,并用它来解释远期价格和预期的未来现货价格。

•解释当前期货价格和预期未来现货价格之间的关系,包括影响系统性和非系统性风险。

•定义和解释正常的逆差和连续性。

希望以上的内容对你有所帮助!如果您想了解更多FRM考试相关问题,添加融跃FRM老师微信(rongyuejiaoyu),给您专业的指导帮助!