12. Which of the following is TRUE about Point of View (POV) and Strategy? A. POV is a specific plan on how to make a trade. B. Strategy is how you think markets will operate for the next year. is an idea about how the markets will operate over some time horizon and how the trade will profit off of it. D. Strategy is a specific plan on how the trader will capitalize on the POV E. C and D are both correct. Which is true about hedging? A. Hedging is mainly concerned with making a profit. B. Hedging and speculating mean the same thing. C. Hedging is mainly concerned with reducing risks in price movements. D. All of the above are true 13. I am worried that the counterparty to my trade will not meet their obligation. This is what typeo enterprise risk? A. Funding B. Market C. Transportation D. Regulatory E. None of the above. 14. What is the function of a commodity trading firm (CTF)? A. Speculating on the market through flat price trades to make a profit. B. Solving a mismatch between supply and demand in the market. C. Acting as a physical problem solver in the market. D. B and C only E. All of the above 15