answer all 3 for an upvote

Which of the following are characteristics of both forwards and futures? I. Daily settlement (marking to market) II. Long position is obligated to buy the underlying asset for a pre-determined price III. Existence of a margin balance for both long and short positions Possible Answers A I & II only B I & III only C II & III only D I, II & III E The correct answer is not given by A, B, C, or D You entered into 10 S&P 500 futures contracts, which is trading at 2,100. Each contract consists of 250 units of the index. The initial margin is 10% of the notional value, and the maintenance margin is 80% of the initial margin. The continuously compounded risk-free interest rate is 5%. What is the greatest futures price that will result in a margin call one day from today? Possible Answers A 2028 3 2038 2048 D 2058 E 2068 Tom took a short position of 15 contracts of S&P 500 futures. Each contract consists of 250 units of the index at a futures price of 1,200 per unit exactly one month from now. The initial margin is 5% of the notional value, and the maintenance margin is 90% of the initial margin. The continuously compounded interest rate is 4%. The position is marked-to-market on a daily basis. On the day of the first marked-to-market, the futures price dropped to 1195. On the day of the second marked-to-market, the futures price is X and Tom is not required to make a deposit into his account. Calculate the largest possible value of X. Possible Answers A 1214.01 B 1212.01 C 1210.01 D 1208.01 E 1206.01