1.)which of the following best describes a "naked" short

	when you do not own the shares you are shorting
	when your counterparty does not own the shares they are allowing you to short
	when you are levering a long position
	when you are providing the shares to be shorted

2.)which is the best example of an arbitrage?

:

	You can buy a car today for $5,000 and you think you can sell it tomorrow for $10,000.
	You can buy a car today for $5,000 and you can sell it next year for $10,000.
	You can buy a car today for $5,000 and you think you can sell it tomorrow for $5,001.
	You can buy a car today for $5,000 and you can sell it immediately for $5,001.