Which of the Following Clauses States That National Law Takes

question 46

Multiple Choice

Which of the following clauses states that national law takes preeminence over state laws whenever such action is viewed as legitimate and within the scope of constitutional authority?

• A) Elastic clause
• B) National supremacy clause
• C) Commerce clause
• D) Necessary and proper clause

---

Definitions:

Strike Price

The predetermined price at which the holder of an option can buy (call) or sell (put) the underlying asset, until the option expires.

Call Contract

A financial agreement giving the buyer the right, but not the obligation, to buy a stock, bond, commodity, or other asset at a specific price within a specific time period.

Ticker Symbol

A unique series of letters assigned to a security for trading purposes.

CBOE Option Contract

A contract that gives the holder the right to buy or sell a specific quantity of a security at a specified price on or before a certain date, traded on the Chicago Board Options Exchange.