Due today
Recall card
Smart flashcards
£179IncludedRecall cards turn explanations into quick reviews and keep difficult facts coming back at the right time.
Candidate note: "The flashcards made short study breaks feel useful instead of random."
Practice mode
Markets/Level 3, Unit 2/Single best answer
Derivatives (Level 3, Unit 2)
Free preview flow for this CISI module. Questions are shown in a tighter exam-style layout, with full banks unlocking on premium.
Question 1 of 20
Scenario
A portfolio manager at a UK-based investment firm holds a short position of 10,000 call options on GKN plc stock, currently trading at £100. Each option has a delta of 0.6 and a gamma of 0.04. The portfolio manager decides to delta hedge the position. Subsequently, negative news impacts the market,...
Assuming the portfolio manager immediately rebalances the delta hedge after the price change, what is the profit or loss resulting from the delta hedging strategy? Ignore transaction costs and assume the delta and gamma are constant over this price range. Consider the impact of gamma on the delta hedge rebalancing. This scenario operates under standard UK market regulations and best practices for derivatives trading.
These bonuses are included for a limited time
Your free Derivatives test is only the first layer
2,790 premium questions for Derivatives, plus the bonus study stack.
Unlock premium bundle
One payment, no subscription
Bundle value
£1196£147
You save £1049 today
Start from £147 and keep the bonus stack included during this offer window.
Core topic
Rules
Traps
Cases
Syllabus mindmaps
£129IncludedVisual maps connect rules, products, roles, and traps so the syllabus feels less like a pile of loose notes.
Candidate note: "The map showed why I kept mixing up similar topics."
Video course walkthroughs
£249IncludedConcise topic videos help you reset fast when a concept refuses to stick from reading alone.
Candidate note: "The video walkthroughs helped me fix weak areas after work."
Formula
Formula cheat sheet
£79IncludedPrintable PDF-style sheets gather key formulas, inputs, and common calculation traps in one place.
Candidate note: "The formula sheet alone saved me 20 hours of hunting through notes."
Final mock72 min
Readiness82%
Final mock exam
£149IncludedA timed final run helps you check pacing, stamina, and topic readiness before exam week.
Candidate note: "The final mock told me exactly what to revise in the last weekend."
Due today
Needs review
Mastered
Spaced repetition queue
£411IncludedWrong answers return automatically, so weak topics do not disappear just because one session ended.
Candidate note: "The review queue stopped me repeating the same mistakes."