問題：A company wants to secure minimum earnings on deposits of $10 million it will be making in four months' time (mid-December) for an investment period of three months (to mid-March). Which of the following would be suitable methods of hedging the exposure to a fall in interest rates over the next four months?
　　A. Buying a put option on September short dollar futures.
　　B. Buying December short dollar futures.
　　C. Buying a call option on December short dollar futures.
　　D. Selling September short dollar futures.
　　E. Selling a 5 v 9 FRA.
　　答案：The correct answers are:
　　Buying a call option on December short dollar futures
　　Buying December short dollar futures
　　解析：The exposure to a fall in short-term interest rates can be obtained by selling a 4 v 7 FRA, buying December futures or buying a call option on December futures. Dealing in September futures or options does not provide sufficient cover against the interest rate exposure.