登录之后可查看解析

Answer (A) is correct . An extremely common form of financial risk management is called hedging. Hedging is the process of using offsetting commitments to minimize or avoid the impact of adverse price movements. A person who would like to sell an asset in the future has a long position in the asset because (s)he benefits from a rise in value of the asset. To protect against a decline in value, the owner can enter into a short hedge, i.e., obtain an instrument whose value will rise if the asset’s value falls.

Answer (B) is incorrect because A long hedge is obtained by a party who fears a rise, not a fall, in the value of the underlying asset.
Answer (C) is incorrect because A naked option is one in which the seller of the option does not already possess the underlying asset.
Answer (D) is incorrect because An interest rate swap is a hedging tool for parties who are attempting to smooth a flow of interest payments, not lock in the price of a commodity.