题目
Which of the following statements regarding market, credit, and operational risk is correct?
选项
A.People risk relates to the risk associated with incompetence and lack of suitable training of internal employees and\/or external individuals.
B.Between two counterparties, presettlement risk is always higher than settlement risk.
C.Options are examples of financial instruments with non-directional risks.
D.Funding liquidity risk results from a large position size forcing transactions to influence the price of securities.
答案
C
解析
People risk relates to the risk associated with fraud perpetrated by internal employees and/or external individuals. It does not relate to incompetence and lack of suitable training. Presettlement risk is lower than settlement risk because the former allows for offsetting of payments while the latter requires settlement of the full value of payments. Non-directional risks have non-linear exposures to changes in economic or financial variables which is clearly the case with options. Asset-liquidity risk (not funding liquidity risk) results from a large position size forcing transactions to influence the price of securities.人员风险指的是内部员工和/或外部人员进行欺诈相关的风险。它与人员的无能和缺乏适当的培训无关。预先结算风险低于结算风险，因为前者允许抵消付款，而后者则要求结算全部付款。非指向性风险对经济或金融变量的变化具有非线性风险，这对期权而言尤为明显。资产流动性风险（不是资金流动性风险）是由于头寸规模过大而迫使交易影响证券价格而造成的。