It has been 24 hours since the exam and I was dreaming about solving quant questions just before I woke up!!! :lol:
Apart from the pass/fail considerations I found it to be a very intelligently structured exam. It made one think and some questions were actually amusing. I liked the clever...
Hi,
You have the right intuition. The correct answer choice here is nothing but a description of portfolio insurance by creating a synthetic put option using index futures.
Sorry about the too glib answer! of course the pagination differs across editions!!
Portfolio insurance is...
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