2014 Errata

Nicole Seaman

Director of CFA & FRM Operations
Staff member
Subscriber
(R12 --->) R15.P1.T3: Study Notes: Hull Chapters 1, 2, 3, 4, 5, 6, 7, 10 & 11
  • Typo tagged for fix in update: 2. In the second scenario, the producer is exposes to a future spot price decrease, such that the appropriate hedge is a short position in coffee futures contracts. In this case as the future sale price is not predetermined, the underlying exposure is effectively a short position such that the hedge instrument is a short position.
 
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