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NEW QUESTION: 1
Queue managers QMGR1, QMGR2 and QMGR3 are members of cluster QC. An administrator created the following queues for an application: On QMGR1: DEFINEQALIAS(TEST.ALIAS) + TARGET(TEST.LOCAL) + DEFBIND(OPEN) + DEFPSIST(NO) On QMGR2 and QMGR3:
DEFINE QLOCAL(TEST.LOCAL) + CLUSTER(QC) + DEFBIND(OPEN) + CLWLPRTY(0) + CLWLRANK(0) +DEFPSIST(NO) The administrator verifies the setup by putting messages on TEST.ALIAS using the sample amqsput program but notices that all messages end up on the same queue manager (either QMGR2 or QMGR3). What could be the likely cause?
A. The CLWLPRTY was set to 0 instead of 50 on TEST.LOCAL in both the queue managers.
B. The queue TEST.ALIAS was defined with the wrong DEFBIND option.
C. The CLWLWGHT attribute of the Cluster channels was not set to 50.
D. The queue TEST.ALIAS was not made part of the cluster.
Answer: B
NEW QUESTION: 2
Donaghy Management Company (DMC) manages several funds only available to high net worth individuals. In preparation for an upcoming meeting, the firm has circulated among its managers the information in Figure 1 on objectives and market expectations relevant to each of three funds.
Figure 1: Fund Strategies and Market Expectations
The manager of Fund A has collected data on put and call options on the broad market index underlying his strategy. The option data are presented in Figure 2. All options presented have the same expiration date.
Figure 2: Option Data for the Broad Market Index
During the meeting, the manager of Fund B states that in order to enhance returns for the fund, he intends to implement a box-spread strategy. The manager explains the strategy by stating, "The ending price of the asset underlying the box-spread strategy has no impact on the payoff of the strategy.
Thus, if the market price of the strategy implies a rate of return greater than the risk-free rate, an arbitrage opportunity exists." Also during the meeting, DMC's president questioned the manager of Fund C about the mechanics of his hedging strategy. The manager explained the strategy with the following comments:
Comment 1: "The hedge position is established to reduce the exposure to certain equity positions by writing call options on those equity positions. The necessary number of short option positions per share of stock held is calculated as the inverse of the option delta." Comment 2: "The hedge position only requires adjusting in the event of a price or volatility change in the underlying and is effective for small changes in the price of the underlying security." Using the data in Figure 2, determine which of the following is closest to the maximum profit from a long butterfly spread strategy if the price of the broad market index is currently 1,502.
A. 17.9.
B. 7.1.
C. 13.0.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
In a long butterfly strategy, the investor purchases a call with a low strike price (X1), purchases a call with a high strike price (X3), and sells two calls with a strike price between the high and low strike prices (X2).
The long butterfly strategy is actually a combination of a bull spread and a bear spread. The strategy is designed to have the highest payoff and profit when volatility is low and the price of the underlying at expiration is equal to X2.
The maximum profit of the strategy is calculated as follows:
X2- X1- C1 + 2C2- C3
where:X2 = Strike price of the option with the middle strike price X1 = Strike price of the option with the low strike price C1 = Premium of option with the lew strike priceC2 = Premium of the option with the middle strike priceC3 = Premium of the option with the high strike price Using the data in Figure 2, the maximum profit on the butterfly spread strategy is equal to:
1,500 - 1,475 - 35-40 + 2(18.10) - 7.90 = 17.90
(Study Session 15, LOS 43.a)
NEW QUESTION: 3
Which of the following memory features allows for the protection against random inconsistencies
in the transfer of the data?
A. ECC
B. Single channel
C. Dual channel
D. Low latency
Answer: A
Explanation:
Reference:http://en.wikipedia.org/wiki/Error_detection_and_correction
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