单选题

A buyer would face the greatest risk of default with:

A、 a farmer making physical delivery on a short soybean futures position.
B、 an investment bank making cash settlement on a short euro futures position.
C、 a multinational firm making cash settlement on a short U.S. dollar forward contract.

【正确答案】 C

【答案解析】

C is correct because in a forward contract, each party assumes the risk that the other party will default.