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NEW QUESTION: 1
[According to the PRMIA study guide for Exam 1, Simple Exotics and Convertible Bonds have been excluded from the syllabus. You may choose to ignore this question. It appears here solely because the Handbook continues to have these chapters.] Which of the following statements is true:
I. Knock-out options start lifeless and convert to a plain vanilla option when the barrier is hit II. Barrier options are cheaper than equivalent vanilla options III. Average price options are more expensive than equivalent vanilla options IV. Digital options have a high gamma close to the strike price
A. I, II and IV
B. I and III
C. II and IV
D. II, III and IV
Answer: C
Explanation:
Knock-out options start as plain vanilla options and are 'knocked-out', ie cease to exist, when the barrier is hit.
Knock-in options start lifeless and 'kick-in', ie come into play as plain vanilla options when the barrier is hit.
Therefore statement I is not correct.
Barrier options are certainly cheaper than equivalent vanilla options because vanilla options have a larger range of prices over which they pay out. Therefore statement II is correct.
Statement III is not correct. Average price options, also called Asian options, are less attractive to a buyer of options and therefore they are cheaper and not more expensive than vanilla options. This is because average prices are less volatile, and also when compared to a strip of equivalent vanilla options, some of the individual vanilla options in the strip may pay out whereas on the average nothing may pay out.
Digital options have a very high gamma close to the strike price as the option payout becomes uncertain and fluctuates sharply between 0 and 1. Therefore statement IV is correct.

NEW QUESTION: 2
ユーザーがダッシュボードを更新すると、ダッシュボードは誰のために更新されますか？
A. ダッシュボードを更新したユーザーのみ。
B. 管理者。
C. ユーザーとダッシュボードにアクセスできるすべてのユーザー
D. 実行中のユーザーのみ
Answer: C

NEW QUESTION: 3
The catch clause argument is always of type__________.
A. Exception but NOT including RuntimeException
B. Error
C. RuntimeException
D. Exception
E. Throwable
F. CheckedException
Answer: E
Explanation:
Explanation/Reference:
Explanation:
Because all exceptions in Java are the sub-class of java.lang.Exception class, you can have a single catch block that catches an exception of type Exception only. Hence the compiler is fooled into thinking that this block can handle any exception.
See the following example:
try
{
// ...
}
catch(Exception ex)
{
// Exception handling code for ANY exception
}
You can also use the java.lang.Throwable class here, since Throwable is the parent class for the application-specific Exception classes. However, this is discouraged in Java programming circles. This is because Throwable happens to also be the parent class for the non-application specific Error classes which are not meant to be handled explicitly as they are catered for by the JVM itself.
Note: The Throwable class is the superclass of all errors and exceptions in the Java language. Only objects that are instances of this class (or one of its subclasses) are thrown by the Java Virtual Machine or can be thrown by the Java throw statement.
A throwable contains a snapshot of the execution stack of its thread at the time it was created. It can also contain a message string that gives more information about the error.