Commodity Forwards and Futures是FRM一級考試的內(nèi)容，是商品遠期和期貨的意思?，F(xiàn)階段，考生正在緊張的備考5月FRM考試，對于這個內(nèi)容，千萬不能忽視。掌握相關(guān)的內(nèi)容不僅對通過考試有幫助，對于以后日常工作也是有幫助的！具體考生能掌握住哪些內(nèi)容呢？》》》戳：各科視頻講義+歷年真題+21年原版書（PDF版）免·費領(lǐng)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.》》》點擊咨詢FRM特惠課程

? 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.

完成閱讀后，您應(yīng)該能夠：

?解釋商品和金融資產(chǎn)之間的主要區(qū)別。

?定義和應(yīng)用商品概念，如存儲成本、運輸市場、租賃率和便利收益率。

?確定影響農(nóng)產(chǎn)品、金屬、能源和天氣衍生品價格的因素。

?解釋商品遠期定價的基本均衡公式。

?描述商品遠期的套利交易，并計算潛在的套利利潤。

?定義租賃利率并解釋其如何確定商品遠期的無套利價值還有未來。【資料下載】點擊下載融躍教育金融專業(yè)英語詞匯大全.pdf

?描述運輸成本模型，并確定存儲成本和便利收益率對運輸成本的影響商品遠期價格和無套利邊界。

?用存儲成本計算商品的遠期價格。

?將租賃率與便利收益率進行比較。

?解釋如何創(chuàng)建綜合商品頭寸，并用它來解釋遠期價格和預(yù)期的未來現(xiàn)貨價格。

?解釋當前期貨價格和預(yù)期未來現(xiàn)貨價格之間的關(guān)系，包括影響系統(tǒng)性和非系統(tǒng)性風險。

?定義和解釋正常的逆差和連續(xù)性。

希望以上的內(nèi)容對你有所幫助！如果您想了解更多FRM考試相關(guān)問題，添加融躍FRM老師微信（rongyuejiaoyu），給您專業(yè)的指導(dǎo)幫助！