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Module 1: Nature of financial derivatives (Reference nos. 1 & 2) 1. What is a derivative? Explain the characteristics of a derivative. (07) 2. Describe the features of and illustrate various types of derivative instruments. (15) 3. Elucidate the structure or participants in the derivative market. (08) 4. Examine the rationale for the emergence of derivatives or the need/benefit/ (07) significance of derivatives. 5. Write a note on derivative markets in India or Write a note on futures and options (08) products in India 6. Distinguish between: marks each) a. Forwards and Futures b. Futures and Options c. Forwards and Options. (04
Module 2: Principles of trading and hedging in index futures (Reference no. 1 & 3) 1. Give precise meaning of the following terms: each) a. Spot and future price b. Contract cycle and contract specifications c. Expiry and settlement date, settlement cycle & price 1 (02 marks
marks) (08 (02 marks Module 4: Risk management systems and procedures (Reference nos. Write a note on clearing & settlement mechanism by NSCCL or functions of NSCCL. Discuss the various types of risks. American and European option c. Hedging and arbitrage strategies in futures. extreme loss & mark to market margins. Option premium. (08 marks) 2. theta and Vega represent? How are they measured? (15 marks) 3. VaR. 2.d. 5 & 6) 1. What do the Greeks delta. Discuss and illustrate the strategies for trading in options. Elaborate on the risk management measures taken by NSCCL (with respect to categorization of stocks. ITM. (08 marks) 3. Call and Put option b. OTM. gamma. (07 marks) 3. ATM. (07 marks) 4. 2 . (07 marks) Module 3: Principles of trading and hedging with options (Reference nos. Write a note on Value at Risk (VaR). instrinsic value d. Types of orders 2. Give precise meaning of the following terms: each) a. strike price. 3& 4) 1. Trading strategies with respect to index futures including both short and long position.
Clearing & settlement systems.L. d. Financial management: theory & Practice.1 a & b 08 & 07 marks for each sub-question or Q.4. Indian financial system. premium margin. Financial Markets.Bharti Pathak 4.com. 1 a & b Q. c. exposure margin. risk management measures by NCCSL and understanding margins *********************************************************** Paper Pattern for derivative markets All questions are compulsory.bseindia. a & b or Q.John Hull 5.2. Initial margin. types of orders.Natarajan & Gordon 2.John Hull & S and Derivatives.com & www. Financial institutions and markets. Derivatives.2. a & b 08 & 07 marks for each sub-question or Q. a & b 08 & 07 marks for each sub-question or Q. a & b Q.nseindia. assignment margin References: 1.3. Q. www.capping & release of margins.3. Internal options may be given.Prasanna Chandra 6.Bhole 3. a & b Q. Briefly explain the different types of margins levied in futures and options segment: (08 marks) a. margins for institutional deals) (15 marks) 5. a & b 08 & 07 marks for each sub-question 3 .4. b.M.