9. The purchase of a futures contract gives the buyer _________.

A. the right to buy an item at a specified price

B. the right to sell an item at a specified price

C. the obligation to buy an item at a specified price

D. the obligation to sell an item at a specified price

10. Ownership of a put option entitles the owner to the __________ to ___________ a specific stock, on or before a specific date, at a specific price

A. right; buy

B. right; sell

C. obligation; buy

D. obligation; sell