2. Which of the following would be considered a key difference between a forward contract and a futures contract? (a) One clearinghouse is the counterparty to all forward contracts. (b) Futures contract is marked to market regularly, while a forward contract is not. (c) The owner of the forward contract receives cash flows from the underlying asset between contract origination and delivery. (d) Only forward contracts can be set up as cash settlement contracts. 3. Which of the following is not an advantage of establishing central counterparties (CCPS)? (a) CCPs allow netting of contracts. (b) CCPs can be applied to some types of OTC trades. (c) CCPs can create more transparency in trading (d) CCPs eliminate all counterparty risk in the financial system