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6. If the SRW visible is a #4 grade, what do you expect the basis market and SRW calendar spreads to price? 7. Define full

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6. If the SRW visible is a #4 grade, what do you expect the basis market and SRW calendar spreads to price? 7. Define full financial carry between the KW220 and KWH21. 8. If shuttle freight is trading at $1,000/car is it bullish or bearish basis and why? 9. What is the benefit of an EFP? 10. Is there counterparty risk in an HTA? Explain your answer. 6. If the SRW visible is a #4 grade, what do you expect the basis market and SRW calendar spreads to price? 7. Define full financial carry between the KW220 and KWH21. 8. If shuttle freight is trading at $1,000/car is it bullish or bearish basis and why? 9. What is the benefit of an EFP? 10. Is there counterparty risk in an HTA? Explain your

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