17. Which of the following is false concerning futures and options?

I. Neither options and futures have specific quantities when issued.

II. Futures are standardized contracts; options are not.

III. Futures represent ownership interest but options represent contingent ownership interest.

IV. Futures can expire worthless, as can options.

a. None of the above.

b. All of the above.

c. Only I and III.

d. Only II and IV.

e. Only I, II, and III.

f. Only II and III.