CFA 2026 Level I Derivatives Gold Forwards Free Quiz 1

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CFA 2026 Level I Derivatives Gold Forwards Free Quiz 1

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CFA 2026 Level I Derivatives Gold Forwards Free Quiz 1

Practice CFA 2026 Level I Derivatives MCQs from Gold Forwards. Get instant results with Explanation.

General10 MCQs

1. What is a gold forward contract?

A. A customized OTC agreement to buy or sell gold at a future date.B. A standardized exchange-traded contract.C. A contract that gives the right, but not the obligation, to buy or sell gold.D. An agreement to exchange gold cash flows over a period.

2. Where are gold forward contracts traded?

A. Exchange-traded market.B. Over-the-counter (OTC) market.C. LBMA.D. COMEX.

3. How is the gold forward price determined?

A. Forward = Spot * (1 + lease rate - interest rate).B. Forward = Spot * (1 + lease rate).C. Forward = Spot * (1 + interest rate - lease rate).D. Forward = Spot * (1 + interest rate).

4. What is the gold forward offered rate (GOFO)?

A. Spot rate.B. Gold lease rate.C. Discount rate.D. Gold forward offered rate (GOFO).

5. What is the gold carry trade?

A. Borrowing gold, selling spot, and investing proceeds.B. Buying gold and holding it.C. Selling gold futures.D. Buying gold futures.

General10 MCQs

6. What is the value of a gold forward contract at inception?

A. The forward price.B. Zero at inception.C. The spot price.D. The notional amount.

7. What is the payoff of a long gold forward contract at maturity?

A. F0 - STB. STC. ST - F0D. 0

8. What is the payoff of a short gold forward contract at maturity?

A. ST - F0B. STC. 0D. F0 - ST

9. What is the credit risk of a gold forward contract?

A. Credit risk for both parties.B. Credit risk only for the buyer.C. No credit risk.D. Credit risk only for the seller.

10. Is a gold forward contract an obligation or a right?

A. An option (right but not obligation).B. A firm commitment (obligation).C. A swap contract.D. A futures contract.

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CFA

Conducting Body: CFA Institute

Frequency: 4 times a year (February, May, August, November) | Time: 135 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 90 MCQs):

Alternative Investments: 8 MCQs
Corporate Issuers: 7 MCQs
Derivatives: 5 MCQs
Economics: 7 MCQs
Equity Investments: 12 MCQs
Ethics: 16 MCQs
Financial Statement Analysis: 11 MCQs
Fixed Income: 11 MCQs
Portfolio Management: 9 MCQs
Quant Methods: 6 MCQs

Merit Formula: -

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