CFA Level 1 Exam

3959 Questions

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Question No. 1

A large silver mining corporation in Australia is expecting to have three large inflows of raw silver resulting from a discovery of three silver seams that were previously undetectable. The firm expects the first silver inflow to be ready for sale in nine months, followed by the second inflow three months later and the final inflow six months later. The mining company is expecting the price of silver to begin a downward trend for the next 18 months and wants to hedge the expected inflows without exposing themselves to credit risks. The most appropriate instrument the company should use is a:

Choose the correct option from the given list.
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