QUESTION 39

An E-mini S&P 500 futures contract is an electronically traded futures contract one fifth the size of standard S&P futures. E-mini S&P 500 futures contracts are based on the underlying Standard & Poor's 500 stock index. Delivery for these E-mini S&P 500 contracts:

a. Is made by delivering 200 shares of each stock in the index.

b. Requires delivery of one share of each stock in the index.

c. Is made by a cash settlement based on the index value.

d. Is made by delivering an S&P 500 index ETF.