Consider the following data on a European call option.

S	30
X	25
r	0.02
T	0.75
sigma	0.20

Calculate the delta of the option. Round to two decimal places.

	a.	0.89
	b.	0.95
	c.	0.08
	d.	0.19

When futures contracts are traded, the gain on the long position equals the loss on the short position. This property is known as:

	a.	Zero-sum game
	b.	Perfect hedge
	c.	Convergence property
	d.	Zero basis

Given the following data:

Treasury Bill

Maturity DTM Bid Asked

Mar 75 1.81 1.80

If you invest in this T-bill today, how much will you pay if par value is $10,000?

	a.	9,962.50
	b.	9,952.00
	c.	9971.25
	d.	9,947.50