1. Part A
   1. Which of the following is not a way to get out of a hedge position?
      1. Letting the contract expire
      2. Reversing the original trade
      3. Double down on an existing contract
      4. Making / taking delivery
2. Part B
   1. Which of the following type of hedge has the highest risk?
      1. Long hedge
      2. Short hedge
      3. Macro hedge
      4. Cross hedge
3. Part C
   1. Who is the risk taker?
      1. Speculator
      2. Dealer
      3. Hedger
      4. Bank