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64. A forward contract may be used for A. Hedging price exposure at a future date. B. Speculating on price. C. Locking-in a price for

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64. A forward contract may be used for A. Hedging price exposure at a future date. B. Speculating on price. C. Locking-in a price for a future transaction. D. All of the above. 65. A forward contract is struck at a forward price of $40. At maturity the spot price of the asset is $45. The short forward position earns the following payoff: A. $5 B. $5 C. $45 D. $45

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