備考FRM考試考生一定要制定相關(guān)的學(xué)習(xí)計(jì)劃，這樣對于備考才是有幫助的。另外，有考生咨詢到有必要做大量的練習(xí)題嗎？關(guān)于答案，隨小編往下看！

FRM考試都是計(jì)算題，因此考生平常的時(shí)候是需要做練習(xí)題的，尤其是近幾年的例題！

“Crashophobia” is often attributed to the:>>>點(diǎn)擊領(lǐng)取2021年FRM備考資料大禮包（戳我免·費(fèi)領(lǐng)?。?/span>

A) U.S. stock market crisis of 1987.

B) Asian currency crisis of 1997.

C) Long-Term Capital Management systemic crisis of 1998.

D) LatinAmerican sovereign debt crisis of 1990.

答案：A

解析：The term “crashophobia” is attributed to Rubinstein’s explanation for the observance of a volatility “smirk” in implied volatility exhibited by equities. Implied volatilities are higher for low strike price because traders want to protect themselves against another substantial drop in the market.

掃碼參與

The implied volatility pattern exhibited when a large jump or drop in price is expected due to some imminent announcement is analogous to the pattern where:》》》想?yún)⒓尤谲SFRM培訓(xùn)班點(diǎn)我咨詢 

A) At-the-money options exhibit less implied volatility than away-from-the-money options.

B) Deep in-the-money puts exhibit less implied volatility than deep in-the-money calls.

C) Deep in-the-money calls exhibit less implied volatility than deep in-the-money puts.

D) At-the-money options exhibit greater implied volatility than away-from-the-money options.

答案：D【資料下載】點(diǎn)擊下載GARP官方FRM二級練習(xí)題

解析：Price jumps tend to generate an implied volatility "frown," where at-the-money options will tend to have greater implied volatility than away-from-the-money options. This pattern is in contrast to the "smile" or "smirk" exhibited by currency and equity options, respectively.

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