一、单选题（共 20 道试题，共 100 分。）V 1. A long position involves inflows ___ than outflows in a currency.|
2. Hedging is the practice of offseting the price risk inherent in any cash market ___ by buying or selling futures contrasts.
3. From the beginning of this year to October, the stock market has been in a ___ of continuous rising of price.
4. Most market participants prefer to ___ futures positions, rather than to make actual delivery.
C. make up
5. There are two different types of options: ___ and puts.
6. There are many ways to ___ analyze the futures market.
7. Investors are afraid that they can’t get back their investment in the stock market, so they may ___ their money to the bonds.
8. Because of overbuying, the shares have heavily___.
9. The futures market is used primarily for either risk management or ___, and neither purpose requires delivery.
10. Parties who have bought a futures contract are said to have taken a ___ position.
11. Other market participants purchase options as a way to ___ on asset price movements.
12. Futures markets provide a current consensus of knowledgeable opinions about the future price of commodities or financial ___.
13. I have got something to ___ you.
B. consult to
C. ask for
D. consult with
14. Options on futures are contracts that convey the buyer the ___.
15. In order to save the stock market from collapsing and to guarantee the financial repaying ability, the government will have to raise the ___.
A. exchange rate
D. interest rate
16. When you buy the corn on the cash market, you can ___ a futures contract of the same amount of corn on the futures market in anticipation of the corn price’s falling.
A. sell long
B. sell short
C. sell out
D. sell up
17. I’m afraid you have got a lot more questions to ___ me again.
C. ask for
18. I think it’s time I ___ in on the action.
A. will get
D. have got
19. To be brief, a hedge is placed by taking a futures position opposite to the position held in the ___ market.
20. Overbuying will surely lead to the ___ of the market.
A. go down
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