2.

Which one of the following statements is not true?

Choose one:

a.Unlike forward contracts, futures contracts are traded on an exchange.

b.

An investor is just as uncertain of the percentage return when the stock price is 10 as when it is 60

c.

Most futures contracts are closed out before maturity.

d.The asset whose price is to be hedged may not be exactly the same as the asset underlying the futures contract.

e.Gold, unlike silver, may provide income to the holder.

f.

If more traders would like to go long than to go short, the asset price would go up.