a) What are the tiers of the foreign exchange market?

b) Why are Credit default swaps seen as a form of gambling?

c) Whats a spot transaction in the inter-bank market?

d) What are the assumptions underlying the law of one price?

e) Under purchasing power parity, whats the correlation between the inflation rate and the exchange rate?

f) What happens to the option price in case the option expires worthless and in case the investor chooses to exercise it?