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Basic Question 1 of 13
The theory of storage predicts ______ relationship between the level of inventories and the convenience yield.
B. an inverse
C. no
A. a direct
B. an inverse
C. no
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Learning Outcome Statements
compare theories of commodity futures returns;
describe, calculate, and interpret the components of total return for a fully collateralized commodity futures contract;
contrast roll return in markets in contango and markets in backwardation;
CFA® 2025 Level II Curriculum, Volume 5, Module 33.