Need the answers to these questions asap. They are about Futures and Forward contracts

Chapter 8: Futures/forward basics (team work) due date: 7/25/16 Monday class, hard copy only 1. Which of the following is not a futures exchange? a. Minneapolis Grain Exchange b. CBOE Futures Exchange c. Chicago Climate Exchange d. Kansas City Board of Trade e. MidAmerica Commodity Exchange 2. Which of the following contract terms is not set by the futures exchange? a. the dates on which delivery can occur b. the expiration months c. the deliverable commodities d. the size of the contract e. the price 3. Which of the following organizations has the ultimate regulatory authority in the futures industry? a. National Futures Association b. Commodity Futures Trading Commission c. Commodity Exchange Authority d. Securities and Exchange Commission e. none of the above 4. Margin in a futures transaction differs from margin in a stock transaction because a. stock transactions are much smaller b. delivery occurs immediately in a stock transaction c. no money is borrowed in a futures transaction d. futures are much more volatile e. none of the above 5. If the initial margin is $5,000, the maintenance margin is $3,500 and your balance is $4,000, how much must you deposit? a. $6,000 b. $1,500 c. $9,000 d. nothing e. none of the above 6. If the initial margin is $5,000, the maintenance margin is $3,500 and your balance is $3,100, how much must you deposit? a. $1,500 b. $400 c. $1,900 d. 0 e. none of the above 7. The number of futures contracts outstanding is called the a. reportable position b. minimum volume c. open interest d. spread position e. none of the above 8. Most futures contracts are closed by a. delivery 1 b. c. d. e. offset exercise default none of the above 9. Most forward contracts are closed by a. delivery b. offset c. exercise d. default e. none of the above 10. Where did the U.S. futures market originate? a. Chicago b. Kansas c. New York d. Minneapolis e. none of the above 11. Which of the following duties is not performed by the clearinghouse? a. holding margin deposits b. guaranteeing performance of buyer and writer c. maintaining records of transactions d. lending money to meet margin requirements e. none of the above 12. What are circuit breakers? a. rules that stop trading when futures are about to expire b. a system that shuts down the exchange computer during periods of abnormal volume c. limits on the number of contracts that can be traded on high volume days d. rules that limit the number of contracts a speculator can hold e. none of the above 13. Which of the following is not a method of terminating a futures contract? a. offset b. delivery c. exchange for physicals d. scalping e. none of the above 14. The trading procedure on the floor of the futures exchange is referred to as a. against actuals b. open interest c. open outcry d. index participation e. none of the above 2