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Note that this is different from the delta of a futures contract which is different from 1, and equal to e pdf and pass your exam easily. If you want real exam simulation then buy test engine and install on your pc for preparation. Download (-rt), ie the change in value is exactly S in response to a change in the price of the underlying by S. Therefore the forward contract has a delta of 1.
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(rt), a number greater than 1.

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(-rt), where S is the current spot price, r the risk free rate, K the forward price, and t the time to maturity. As S changes from S to (S + S), the value changes to (S + S) - Ke

 



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