S&P 500 INDEX (CME); $500 Times Index May 12, 2007

question 267

Multiple Choice

S&P 500 INDEX (CME) ; $500 times index May 12, 2007 What is the highest value at which the December contract has ever been quoted?

• A) $414,525
• B) $426,400
• C) $429,675
• D) $431,100
• E) $434,275

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Definitions:

Net 30 Policy

A term indicating that payment is due in full 30 days after the goods are delivered or the service is completed.

Average Inventory

The mean value of all inventory a company holds over a certain period of time, reflecting the average amount of stock available.

Carrying Cost

The total cost of holding inventory, including storage, insurance, depreciation, and opportunity costs, among others.