1. The gradual reduction of bank branches has been motivated by: Select one: a. geographical spread. b. cost reduction. c. activity diversification. d. safety.

2. Futures contracts differ from forwarding contracts in all of the following ways except: Select one: a. futures markets are more formal than forwarding markets. b. futures contracts are standardized; forward contracts are not. c. forward contracts involve an intermediary or exchange. d. delivery is made most often in forwarding contracts.