Need help with the following questions. Please provide explanations.

7. Which statement regarding executive stock options is correct?

They are short term and usually expire after one year.

They should reduce agency costs by making managers act like shareholders

They can only be used by publicly-traded companies

Managers can sell the options on an exchange

8. Which of the following statements are correct?

Forward contracts are standardized and trade on an exchange

Profits and Losses on Futures contracts are marked to market on a daily basis.

Delivery of the assets almost never occurs in the forward market

Futures contracts allow you to buy or sell individual stocks for a preset price on the expiration date.