In 2009, Senator Arlen Specter Did Which of the Following

question 17

Multiple Choice

In 2009, Senator Arlen Specter did which of the following?

• A) Left the Republican Party and became a Democrat
• B) Left the Democratic Party and became a Republican
• C) Left the Democratic Party and became an Independent
• D) Retired from the Senate
• E) Became Senate majority leader

---

Definitions:

Forward Contact

A financial contract between two parties to buy or sell an asset at a specified future time at a price agreed upon today, often used for hedging foreign exchange risk.

Planned Purchase

A forecasted acquisition of goods or services that an individual or organization intends to make, often based on budget considerations or strategic planning.

Cash Flow Hedge

A type of hedge that protects against the variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability or a highly probable forecasted transaction.

Fair Value Hedge

A type of hedge that is used to mitigate the risk of changes in the fair value of an asset or liability.