Bonus
Answer the following about futures contracts, for 10 points each.
[10e] Like options, futures contracts are this kind of financial instrument whose value depends on an underlying asset. They share their name with a calculus operation that can find the slope at any point along an indifference curve.
ANSWER: derivatives [accept partial derivatives]
[10h] A market is in this condition when the price of a futures contract is [emphasize] higher than the spot price, such that on a plot of future time against price, the “forward curve” is [emphasize] upward-sloping. This condition’s opposite is backwardation.
ANSWER: contango [accept normal contango]
[10m] Holders of futures contracts post both “initial” and “maintenance” forms of this deposit. This term refers to the collateral that a trader deposits with a counterparty when using borrowed funds, and names a “call” in which the broker demands more.
ANSWER: margin [accept initial margin; accept maintenance margin; accept margin call]
<Social Science>
Answerlines and category may not exactly match the version played at all sites
Conversion
| Team | Opponent | Part 1 | Part 2 | Part 3 | Total | Parts |
|---|---|---|---|---|---|---|
| British Columbia | Columbia A | 10 | 10 | 0 | 20 | EH |
| Chicago A | WUSTL B | 10 | 0 | 10 | 20 | EM |
| Chicago B | RIT | 10 | 0 | 0 | 10 | E |
| Georgia Tech | Columbia B | 10 | 0 | 0 | 10 | E |
| Illinois A | Penn State | 10 | 0 | 0 | 10 | E |
| Illinois B | Yale | 10 | 0 | 10 | 20 | EM |
| Iowa State | Cornell B | 10 | 0 | 10 | 20 | EM |
| Johns Hopkins | UC Berkeley B | 10 | 0 | 10 | 20 | EM |
| LSE | Cornell A | 10 | 0 | 10 | 20 | EM |
| MIT | Florida | 10 | 0 | 0 | 10 | E |
| Maryland | North Carolina A | 10 | 0 | 0 | 10 | E |
| NYU | Rutgers | 10 | 0 | 0 | 10 | E |
| Northwestern | Ohio State | 10 | 0 | 10 | 20 | EM |
| Texas | Waterloo B | 10 | 0 | 10 | 20 | EM |
| Toronto A | UC Berkeley A | 10 | 0 | 10 | 20 | EM |
| Toronto B | Minnesota | 10 | 0 | 0 | 10 | E |
| Toronto C | Virginia | 10 | 0 | 0 | 10 | E |
| Virginia Tech | Georgia State | 10 | 0 | 0 | 10 | E |
| WUSTL A | Indiana | 10 | 10 | 10 | 30 | EHM |
| Waterloo A | Harvard | 10 | 0 | 0 | 10 | E |
Summary
| Tournament | Exact Match? | Heard | PPB | Easy % | Medium % | Hard % |
|---|---|---|---|---|---|---|
| 2025 ACF Nationals | Yes | 20 | 15.50 | 100% | 45% | 10% |