An Officer Who Uses a Flash Light to Look Inside

question 25

Multiple Choice

An officer who uses a flash light to look inside the front seat of a locked, illegally parked automobile on a public street and notices a bag of marijuana on a front seat:

• A) has conducted an illegal search because he enhanced his normal senses with a flashlight.
• B) has conducted an illegal search because he looked into the windows of a locked car.
• C) has not conducted a search at all and his actions are not in violation of the Fourth Amendment because the marijuana was in plain view.
• D) has conducted a legal search because under the Fourth Amendment he can use a flashlight.

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Definitions:

Strike Price

The fixed price at which the owner of an option can purchase (in the case of a call option) or sell (in the case of a put option) the underlying security or commodity.

Risk-Free Rate

The rate of return on an investment with zero risk, typically associated with government bonds, serving as a baseline for evaluating investment risk.

Put Option

A financial contract giving the holder the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.

Exercise Value

The value of an option if it were exercised at the current time; essentially the difference between the strike price and the current price of the underlying asset.