a. Briefly discuss three (3) disadvantages of the forward contract. Explain how these (6+ 6 marks 12 marks) disadvantages are addressed with the futures contract. b. Briefly discuss one disadvantage of the futures contract which is addressed by the options contract. (3 marks) c. The majority of Shari'ah scholars do not view modern day derivatives favourably. Briefly discuss two (2) issues that bring the Shari'ah permissibility of derivatives to question. (4 marks) d. What is a Credit Default Swap (CDS)? What role did the CDS play in the recent (Sub- Prime) Global Financial Crisis? 3 +3 marks 6 marks a. Briefly discuss three (3) disadvantages of the forward contract. Explain how these (6+ 6 marks 12 marks) disadvantages are addressed with the futures contract. b. Briefly discuss one disadvantage of the futures contract which is addressed by the options contract. (3 marks) c. The majority of Shari'ah scholars do not view modern day derivatives favourably. Briefly discuss two (2) issues that bring the Shari'ah permissibility of derivatives to question. (4 marks) d. What is a Credit Default Swap (CDS)? What role did the CDS play in the recent (Sub- Prime) Global Financial Crisis? 3 +3 marks 6 marks