单选题 Which of the following is most representative of forward contracts and contingent claims? Forward Contracts Contingent Claims A. Premium paid at inception Premium paid at inception B. Premium paid at inception No premium paid at inception C. No premium paid at inception Premium paid at inception

【正确答案】 C

【答案解析】Unlike a contingent claim, a forward commitment typically requires no premium to be paid up front. An intuitive way to look at this is to realize that a forward commitment is binding on both parties, so any up-front fees would cancel, while a contingent claim is binding only on the party in the short position. For this, the party in the short position demands (and receives) compensation.