THE BMZ ACADEMY
THE BMZ ACADEMY
053 8213
BMZ ACADEMY 061 262 1185/068 053 8213Page 1 of 13
,THE BMZ ACADEMY 2026
7/12/26, 11:23 AM Assessment 2 (page 1 of 7)
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QUIZ
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Question 1
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A TRADER ENTERS INTO A 3-MONTH FUTURES CONTRACT TO BUY WHITE MAIZE FOR R3700
PER TONNE. THE CONTRACT IS FOR THE DELIVERY OF 1000 TONNES. THE INITIAL
MARGIN IS R550,000 AND THE MAINTENANCE MARGIN IS R250,000.
Question 1
Trader will make a LOSS at the end of the contract if the price is
R3620 per tonne.
Amount of profit/loss: R 80000
Enter Rand value (e.g., 50000).
Question 2
Trader will make a PROFIT at the end of the contract if the price is
R3920 per tonne.
Amount of profit/loss: R 220000
Enter Rand value (e.g., 50000).
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, THE BMZ ACADEMY 2026
7/12/26, 11:22 AM Assessment 2 (page 2 of 7)
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QUIZ
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Question 2
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A SHARE CURRENTLY TRADES AT R145 WHILE 3-MONTH EUROPEAN CALL OPTIONS ON THIS
SHARE WITH A R152 STRIKE TRADE AT R5. AN INVESTOR WHO EXPECTS THE SHARE
PRICE TO INCREASE IS TRYING TO DECIDE BETWEEN BUYING 100 SHARES OR BUYING
3000 CALL OPTIONS. BOTH STRATEGIES REQUIRE AN INVESTMENT OF R15,000.
Question 1
Calculate the gain when owning CALLS if the share price increases to R158.
Gain: R 3000
Enter Rand value (e.g., 1000).
Question 2
Calculate the gain when owning SHARES if the share price increases to R158.
Gain: R 1300
Enter Rand value (e.g., 1000).
Question 3
Therefore, owning CALLS would be more profitable when the share trades
at R158.
Question 4
Determine the share price at which both strategies will be EQUALLY
profitable.
Price: R 157.41
Enter Rand and cents value (e.g., 123.45).
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THE BMZ ACADEMY
053 8213
BMZ ACADEMY 061 262 1185/068 053 8213Page 1 of 13
,THE BMZ ACADEMY 2026
7/12/26, 11:23 AM Assessment 2 (page 1 of 7)
RSK4805-26-Y Welcome Message Assessment 2
QUIZ
Time left 0:53:12
Question 1
Answer saved
Marked out of 4.00
A TRADER ENTERS INTO A 3-MONTH FUTURES CONTRACT TO BUY WHITE MAIZE FOR R3700
PER TONNE. THE CONTRACT IS FOR THE DELIVERY OF 1000 TONNES. THE INITIAL
MARGIN IS R550,000 AND THE MAINTENANCE MARGIN IS R250,000.
Question 1
Trader will make a LOSS at the end of the contract if the price is
R3620 per tonne.
Amount of profit/loss: R 80000
Enter Rand value (e.g., 50000).
Question 2
Trader will make a PROFIT at the end of the contract if the price is
R3920 per tonne.
Amount of profit/loss: R 220000
Enter Rand value (e.g., 50000).
MORE INFO 061 262 1185/068 053 8213
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=34098655&cmid=1301711 1/1
, THE BMZ ACADEMY 2026
7/12/26, 11:22 AM Assessment 2 (page 2 of 7)
RSK4805-26-Y Welcome Message Assessment 2
QUIZ
Time left 0:53:23
Question 2
Answer saved
Marked out of 5.00
A SHARE CURRENTLY TRADES AT R145 WHILE 3-MONTH EUROPEAN CALL OPTIONS ON THIS
SHARE WITH A R152 STRIKE TRADE AT R5. AN INVESTOR WHO EXPECTS THE SHARE
PRICE TO INCREASE IS TRYING TO DECIDE BETWEEN BUYING 100 SHARES OR BUYING
3000 CALL OPTIONS. BOTH STRATEGIES REQUIRE AN INVESTMENT OF R15,000.
Question 1
Calculate the gain when owning CALLS if the share price increases to R158.
Gain: R 3000
Enter Rand value (e.g., 1000).
Question 2
Calculate the gain when owning SHARES if the share price increases to R158.
Gain: R 1300
Enter Rand value (e.g., 1000).
Question 3
Therefore, owning CALLS would be more profitable when the share trades
at R158.
Question 4
Determine the share price at which both strategies will be EQUALLY
profitable.
Price: R 157.41
Enter Rand and cents value (e.g., 123.45).
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