(1)Explain why expectations of gold prices in the future do not have a role to play in determining the futures price for gold.

Hint: Explain and discuss how futures prices are determined.You will see thatexpectations of the price of gold in the future does not enter into the pricing equation.Why?

(2)Give two examples and explain of how options can be used if an investor is bullish on a stock.

(3)Describe the cash flows to a short futures contract. Give an example.

(4)Explain the role of directors in the management of a modern multinational firm.What are some of the decisions that directors can be expected to take.

(5)FinTech is an important development in Financial Markets.Using the Lending Club case as an example, describe the promise and problems with FinTech.