The General Approach to Protecting the Public Includes Ensuring a Level

question 5

Multiple Choice

The general approach to protecting the public includes ensuring a level of competency among health care professionals. Licensure is a:

• A) Formal recognition of a person as a professional with competence
• B) Voluntary approach to quality control
• C) Contract between the profession and the state
• D) Mechanism by which a state government agency grants corporate status to institutions

---

Definitions:

Time Spread

An options strategy involving the purchase and sale of two options of the same type and strike price but with different expiration dates.

Exercise Price

The price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying security.

Expiration Date

The specific date upon which an options or futures contract is no longer valid and the right to exercise it ceases.

Call Contract

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