LEAPS Are a Special Type of Option

question 41

Multiple Choice

LEAPS are a special type of option

• A) that must be exercised within six months.
• B) that can only be exercised on the expiration date.
• C) that cannot be exercised for at least a year after it is is purchased.
• D) that may have an expiration date as long as three years.

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Definitions:

Personal Property

Any movable property that is not considered real property, such as vehicles, electronics, and furniture.

Collateral

Assets pledged by a borrower to secure credit or a loan, which can be seized in case of default.

Intangibles

Intangibles refer to non-physical assets that have value, such as intellectual property, goodwill, and brand recognition.

Proceeds

The amount of money obtained from an event or transaction, such as the sale of goods or property.