【每日一练】CFA 一级（2015年）

Question：

Which of the following statements best describes changes in the value of a long forward position 
during its life? 
A. As interest rates go down, the value of the position goes up. 
B. As the time to maturity goes down, the value of the position goes up. 
C. As the price of the underlying goes up, the value of the position goes up. 
Answer = C 
Given the formula for the value of a forward contract:

it follows that the value of the contract goes up as the price of the underlying goes 

CFA Level 1
“Basics of Derivative Pricing and Valuation,” Don M. Chance, CFA
Section 3.1.3

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