For the candidates who have passed the futures qualification examination, many partners generally reflect that they believe that the basic knowledge of futures can not be learned. There are actually many reasons for this. On the one hand, they are very nervous. On the other hand, they spend a lot of time because they haven't mastered the necessary skills. Therefore, for the candidates of 202 1, they must master the corresponding answering skills in the preparation process. Today, it brought us 20265438.

1. In fact, the topics in the futures basic exam are not too difficult, but there are many calculation questions in the exam, including 20 comprehensive questions, which are basically calculation questions, and some multiple-choice questions and multiple-choice questions need to be calculated. For the futures basic examination, the calculation questions are mainly in chapters 4 to 9. The examination focuses on the investigation of futures arbitrage, including the arbitrage operation and application of commodity futures, foreign exchange futures, treasury bonds futures and stock index futures. Therefore, mastering the skills of doing arbitrage problems related to commodity futures is the key to improve the speed of doing problems. The arbitrage of other financial derivatives is based on this method.

2. Thirdly, we need to understand a learning idea: be familiar with the derivation process and keep in mind the arbitrage strategy and conclusion. In arbitrage, the relationship between forward market, reverse market, bear market arbitrage and bull market spread, buy arbitrage and sell arbitrage is clarified.

forward market

Definition: The futures contract price in recent months.

Reverse market

Definition: the futures contract price in recent month > the futures contract price in far month.

bull spread

Operation: Buy futures contracts in the near month and sell futures contracts in the far month.

Bear market arbitrage

Operation: sell near-month futures contracts and buy far-month futures contracts.

Combining the favorable market with the bull market spread, the operation is: buy the contract at a low price and sell it at a high price. And this operation is the concept of selling arbitrage:

Buy arbitrage

Buy a contract with a higher price and sell a contract with a lower price, and the spread of the contract is enlarged and profitable.

Bell propagation

Selling contracts with higher prices and buying contracts with lower prices will narrow the spread and make profits.

Conclusion: Bull market spread = selling arbitrage is going on in the market.

And selling arbitrage, the spread is reduced and there is profit, and the formula can be drawn: it is meager profit.

If you change the words "positive", "ox" and "small" into one word, then "profit" becomes "loss". Negative is the principle of positive)

3. Generally speaking, the arbitrage problem can be derived from the previous buying arbitrage and selling arbitrage directions to calculate the profit and loss. After deducing their relationship, we only need to memorize the arbitrage-related formula, find out the information in the formula directly in the topic when doing the problem, and then apply it to do the test. I believe that if you master the formula, this problem can be worked out quickly.

About the skills of answering questions related to 202 1 futures qualification: arbitrage questions, I will share them with you here to help you think, analyze and deduce faster and improve the speed of doing the questions. Let's learn quickly and wish you success!