Keynes theory of normal backwardation splits a futures price into an expected risk premium and a forecast of a future spot price. (T/f)

A swap is a derivative contract involving two parties. In the crude oil market, over the counter swaps are common. In such a swap the two parties would agree to swap a fixed payment for a ( ) payment.

Agricultural commodities account for the largest share of global futures volume by category. (T/F)

A call option gives the buyer the right (but not the obligation) to purchase a futures contract at a specified strike price & during a specific time period. (T/F)