目前中国(包括香港、台湾)已取得FRM证书的已超过800人。 FRM考试虽然设立时间不长，但发展极为迅速，全球报考人数以每年超38%的速度增长。那么即将要参加2016年5月份frm考试的考生如何才能确保通过frm考试呢？答案就只有一个，那就是多做frm习题。
frm习题：
1.An Asian option can be hedged dynamically because the:
A. average value of the underlying asset price decreases uncertainty the closer the option gets to expiration.
B. average value of the underlying asset price increases uncertainty the closer the option gets to expiration.
C. maximum value of the underlying asset price decreases uncertainty the closer the option gets to expiration.
D. minimum value of the underlying asset price increases uncertainty the closer the option gets to expiration.
2.Which of the following statements is an example of basis risk? Purchasing:?
A. an oil contract with delivery in a different geographical region.
B. a commodity with a desired distant delivery with near-term contracts.
C. a eurodollar contract, due to lack of commodity futures.
D. All of the above statements are correct.
1.A
Dynamic hedging can be used to hedge Asian options because uncertainty in the expiration value is decreased the closer one gets to expiration. This occurs because the intrinsic value becomes “set” due to the averaging effect over the life of the option.
2.D
All are examples of basis risk, which results from the inability of commodities to create a perfect hedge. Differences due to timing, grade, storage costs, or transportation costs create basis risk.
