CFA Level I sample question

CFA Level I Pricing and Valuation of Futures Contracts question

Derivatives / Pricing and Valuation of Futures Contracts

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Pricing and Valuation of Futures Contracts sample question

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Derivatives

Pricing and Valuation of Futures Contracts

Lucia Fernandez buys two gold futures contracts at a price of USD 1,950.00 per ounce; each contract covers 100 ounces. The initial margin is USD 8,000 per contract and the maintenance margin is USD 7,200 per contract. At the end of the first trading day, the settlement price is USD 1,940.00. The variation margin Fernandez must deposit is closest to:

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