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When short an OTC put option onABC stock, how does the credit exposure change if the stock price decreases?

A) Increases.

B) Decreases.

C) Doesn't vary with underlying stock price.

D) There is no credit exposure on short options.

答案：D

解析：There is no credit exposure on short options.

How does the credit exposure of a long OTC put option on XYZ stock change when the stock price decreases?

A) Decreases

B) Doesn't vary with underlying stock price

C) Increases

D) There is no credit exposure on long options

答案：C

解析：The value of the put at expiration is defined as max(X-S, 0) where X = strike price and S = spot price. Therefore, a long put option increases in value as the stock price decreases. Thus, the expected liability of our counterparty is increased (choice C).

Which of the following derivatives has a potential future exposure peaks at maturity?掃描圖中二維碼直接預(yù)約

A) Interest rate swaps

B) Credit Default Swap

C) Currency Swaps

D) None of the above

答案：C

解析：Currency swaps exchange large amount at maturity so that has an potential future exposure peaks at maturity.

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