QUESTION 24

1. The following statements against forward contracts are false, except for:

	a.	A deliverable forward contract stipulates that the long and short shall pay the net cash value of the position on the delivery date.
	b.	The party who agrees to sell is the one in the short position.
	c.	An investor in the short position of a forward contract will have a positive value for its forward contract in the event of increasing future prices of the underlying asset.