8. Simultaneous purchase of a "nearest" AND sale of a "more distant" contract (both have same underlying securities/ commodities) is generally known in derivatives markets as:

a.selling an inter-commodity spread

b.buying a tiime spread

c.anticipatory hedgeing

d.selling the TED spread

e. selling a time spread

9.Kellogg's (Kalamazoo, MI cereal producer) is a good histrorical example of one futures market participant with ongoing need to acquire spot grains at low (fixed) futures contract prices. As such, they typically undertake what is known among traders as a "___________hedge"

10. The normal and natural process of futures -versus-spot price diffenerence becoming less-and-less significant as contract delivery date approaches is generally known among futures traders as:

a.normal backwardation

b.convergence

c.contango

d.cost of carry

e.none of the above

Fill in the blank

11. Due to position adjustments/reversing trades(most typically near a contract delivery date), _____________ is a more accurate measurement of derivatives market acitivity than other activity/ liquidity numbers such as trading volume.