A Moving to another question will save this response. Question 1 Firms can close-up a future position when they buy a currency future and then sell identical futures contracts prior to settlement buy identical futures contracts prior to settlement buy a call option prior to settlement sell a call option prior to settlement Question 3 A European-style currency option may only be exercised on the expiration date. True O False Question 2 Future contracts are used primarily by small firms and individuals because they can be tailored to the needs of those clients True False Question 5 A buyer of a put option stops to benefit of a net profit in exercising the put when O The future spot rate is lower than the strike price plus the premium The future spot rate is equal to the strike price plus the premium The future spot rate is higher than the strike price minus the premium The future spot rate is lower than the strike price minus the premium