________ Are Standardized Agreements as to the Delivery Date (Or

question 32

Multiple Choice

________ are standardized agreements as to the delivery date (or month) and quality of the deliverable, and are traded on organized exchanges, while ________ is usually nonstandardized because the terms of each contract are negotiated individually between buyer and seller.

• A) Futures contracts; a forward contract
• B) Standardized contracts; a nonstandarized contract
• C) Futures contracts; a nonstandarized contract
• D) Standardized contracts; a futures contract

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Definitions:

Income Tax Overpayment

A situation where an individual or entity has paid more income tax to the government than was actually owed.

Canada Revenue Agency

The federal agency responsible for administering tax laws and various social and economic benefit and incentive programs delivered through the tax system for the Government of Canada.

Simple Interest

A method of calculating interest where the charge is based on the original principal amount and does not compound.

Principal Amount

The original sum of money lent in a loan or invested, excluding any interest or profits.