Explain the differences between an options maturity and exercise date. When does exercise take place for a

Question:

Explain the differences between an option’s and exercise date. When does exercise take place for a European option? For an American option?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...