The Terms of Futures Contracts __________ Standardized, and the Terms

question 32

Multiple Choice

The terms of futures contracts __________ standardized, and the terms of forward contracts __________ standardized.

• A)are; are
• B)are not; are
• C)are; are not
• D)are not; are not

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Definitions:

Immediate Loss

Financial damage or cost incurred directly as a result of an event, action, or decision, without any delay.

Forged Instruments

Documents that are illegally altered or created to deceive or commit fraud.

Presentment Warranty

A guarantee in commercial transactions that all statements and endorsements regarding a negotiable instrument are true.

Altered Check

A negotiable instrument that has been unlawfully modified in order to benefit someone other than the intended payee, typically involving change to the amount or payee name.