[Solved] Option positions that do not identifiably hedge an underlying asset or liability is referred to as a naked option Identical Twins: Twins that originate from the same fertilized egg, sharing 100% of their genetic material. Fraternal Twins: Twins who are born at the same time but are not genetically identical; they developed from two different eggs fertilized by separate sperm cells. Predictive Validity: The extent to which a score on a scale or test predicts future performance or behaviors. Aptitude Test: A standardized test designed to measure an individual's potential to perform tasks or learn new skills.