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NEW QUESTION: 1
Backwardation can happen in markets where
A. convenience yields are zero
B. convenience yields are greater than the total interest, storage and other carrying costs
C. convenience yield is less than the total interest and carrying costs
D. convenience yields are positive
Answer: B
Explanation:
Explanation
Convenience yield is the benefit from having access to the commodity - and if the convenience yield is very high, for example in a market where manufacturers must never run out of a particular raw material, then these can switch the total cost of carry (which include interest and storage costs, less convenience yields) to being negative. This causes forward prices to become lower than spot prices, a phenomenon known as backwardation.
Therefore Choice 'b' is the correct answer. If convenience yields are less than other carrying costs, then backwardation will not happen. The sign of convenience yields does not matter, what matters is their relative magnitude when compared to the other costs of carry.
To understand this in an intuitive way, consider that forward prices are nothing but spot prices, plus interest, plus storage costs, less convenience yields. If interest and storage costs are less than the convenience yield, the market will be backwarded.
NEW QUESTION: 2
You are a technical support specialist for your company and are responsible for supporting employee mobile devices.
The sales department recently began using Microsoft Dynamics 365. Some of the sales staff want to know if they need to use Microsoft Dynamics 365 for phones express to access the Microsoft Dynamics 365 server.
Which type of mobile device configuration requires the use of Microsoft Dynamics 365 for phones express?
A. an iOS device with less than a 9-inch screen
B. an Android phone that does not have a supported browser
C. a Windows 10 phone that uses only a supported browser
D. a Windows 8.1 phone that uses the Microsoft Dynamics 365 for phones app
Answer: A
NEW QUESTION: 3
別のユーザーがExcelファイルをパブリックフォルダーにアップロードしました。このファイルからモデルを作成するには、最初に何をする必要がありますか？（正しい答えを選択してください）。
A. ファイルをパブリックフォルダーからコンピューターにダウンロードします。
B. このファイルに新しいデータアクションを作成します。
C. このファイルを指す新しいデータセットを作成します
Answer: C
NEW QUESTION: 4
An administrator needs to verify which port the switch manager is using. Which command should be used?
A. show controller-cluster status
B. show controller-cluster connections
C. show controller-cluster core stats
D. show controller-cluster logical-switches
Answer: B