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>
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Conversion

Summary

TournamentExact Match?HeardPPBEasy %Medium %Hard %
2025 ACF NationalsYes2015.50100%45%10%