A ________ Is a Derivative Security That Gives the Owner

question 36

Multiple Choice

A ________ is a derivative security that gives the owner the right,but not the obligation,to buy an asset at a fixed price for a specified period of time.

• A)futures contract
• B)call option
• C)put option
• D)swap
• E)forward contract

---

Definitions:

Ozone-Depleting Substances

Ozone-Depleting Substances are chemicals that cause the depletion of the ozone layer, which protects the Earth from harmful ultraviolet radiation.

Pre-1950 Ozone Levels

The concentration of ozone in the Earth's stratosphere before the significant increase in human-made emissions affecting the ozone layer.

Earth

The third planet from the Sun, uniquely supporting life within the solar system.

Chlorofluorocarbons

A group of man-made chemical compounds containing chlorine, fluorine, and carbon, historically used in refrigeration and aerosol propellants, but now known to deplete the ozone layer.