FRM 2026 Part I Financial Markets and Products Options Free Quiz 2

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FRM 2026 Part I Financial Markets and Products Options Free Quiz 2

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FRM 2026 Part I Financial Markets and Products Options Free Quiz 2

Practice FRM 2026 Part I Financial Markets and Products MCQs from Options. Get instant results with Explanation.

General10 MCQs

1. What is delta in options?

A. Delta measures the sensitivity of the option price to changes in the underlying asset priceB. Delta measures the sensitivity to volatilityC. Delta measures the sensitivity to time decayD. Delta is the same as gamma

2. What is gamma in options?

A. Gamma measures the sensitivity to volatilityB. Gamma is the same as deltaC. Gamma measures the time decay of the optionD. Gamma measures the rate of change of delta with respect to the underlying price

3. What is vega in options?

A. Vega measures the sensitivity to changes in the underlying priceB. Vega measures the sensitivity to changes in volatilityC. Vega measures the time decay of the optionD. Vega is the same as theta

4. What is theta in options?

A. Theta measures the sensitivity to volatilityB. Theta measures the sensitivity to the underlying priceC. Theta measures the time decay of the option priceD. Theta is the same as delta

5. What is rho in options?

A. Rho measures the sensitivity to interest rate changesB. Rho measures the sensitivity to volatilityC. Rho measures the sensitivity to the underlying priceD. Rho is the same as theta

General10 MCQs

6. What is put-call parity?

A. Put-call parity: C + S0 = P + PV(K)B. Put-call parity: C - PV(K) = P - S0C. Put-call parity: C - S0 = P - PV(K)D. Put-call parity: C + PV(K) = P + S0

7. What is a covered call?

A. A covered call involves buying a call optionB. A covered call involves holding the underlying asset and selling a call optionC. A protective put involves selling a put optionD. Option strategies are not used in risk management

8. What is implied volatility?

A. Implied volatility is the historical volatility of the underlying assetB. Implied volatility is the same as the standard deviation of returnsC. Implied volatility is the volatility implied by the option's market priceD. Implied volatility is constant for all options

9. What is a straddle option strategy?

A. A straddle involves buying a call and a put with the same strike and expirationB. A straddle involves selling a call and a putC. A strangle involves buying a call and a put with the same strikeD. A straddle profits from small price movements

10. What is the volatility smile?

A. The volatility smile is a flat lineB. The volatility smile indicates that implied volatility is constantC. The volatility smile is not observed in practiceD. The volatility smile shows higher implied volatility for in-the-money and out-of-the-money options

📋 FRM - Test Online Practice Quizzes

FRM

Conducting Body: Global Association of Risk Professionals GARP

Frequency: three times a year: May, August, and November | Time: 240 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 100 MCQs):

Foundations of Risk Management: 25 MCQs
Quantitative Analysis: 25 MCQs
Financial Markets and Products: 25 MCQs
Valuation and Risk Models: 25 MCQs

Merit Formula: -

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