QUESTION 5 Futures trading in the U.S. is regulated by: O a. The Securities and Exchange Commission (SEC). b. The Federal Reserve (FED). OC. The Commodity Futures Trading Commission (CFTC). Od. The U.S. Trade and Tariff Board (UTTB). QUESTION 6 Which of the following regarding basis is least accurate? O a. The basis is the difference between the spot price and the futures price. b. The hedger bears the basis risk. O c. A short hedger suffers losses when the basis decreases. O d. The basis increases when the futures price increases by more than the spot price