4. Which of the following insight best describes derivatives? a. Contract and Transact Now b. Contract and Transact Later c. Contract Now, Transact Later d. Transact Now, Contract Later 5. Derivatives are: a. Synthetics b. zero-sum games c. traded in zero net supply markets d. All of the above 6. An investor bought shares of TSLA stock in the stock market; this is a transaction in: a. Both spot and derivatives markets b. Derivatives market c. Spot market d. None of the above