Need the answer to these questions and explanation thanks!

1. Nat-Jpn} In which of the following situations would a forward contract sell at a premium? Spot rate $1.253; Forward rate $1.310 Spot rate $1.333; Forward rate $1.233 _ Spot rate $1.315; Forward rate $1.2?3 . Spot rate $1.252; Forward rate $1.515 How does an option contract differ from a forward contract? A. Options occur when the spot rate exceeds the forward rate; while forward contracts occur when the spot rate is less than the forward rate. B. Options are less expensive than forward contracts. 13. Option contracts give the holder the option to buy or sell foreign currency in the future; while a forward contract requires it. D. Options are only used as a speculaljve derivative, while fonvard contracts are used for hedging. Angf the following data may be needed to determine the fair value of a forward contract except: A. The forward rate when the contract was entered into B. The forward rate at the date on which the fair value is being measured C. The spot rate at the time of the contract's maturity D. The company's incremental horrowingldlscount rate Hedge effectiveness: A. lvlust be assessed only in the rst accounting period of the hedge B. Always requires that the terms of the hedge perfectly match the terms of the underlying asset or liability C. Is not required for cash flow hedges D. Oan sometimes be assessed using quantitative analysis by accounljng staff Which of the following transaction types are not eligible for fair value hedging? A. A hedge of an asset or liability B. All transaction types are eligible for fair value hedges C. A hedge of a rm commitment D. A hedge of a forecasted transaction