Question 8 A buyer of a put option stops to benefit of a net profit in exercising the put when The future spot rate is lower than the strike price plus the premium The future spot rate is lower than the strike price minus the premium The future spot rate is equal to the strike price plus the premium The future spot rate is higher than the strike price minus the premium Question 9 A call option is in the money if : the spot rate is lower than the strike price the spot rate is equal to the strike price the spot exchange rate is greater than the strike price O the spot rate is greater than the stike price plus the premium Question 11 Firms can close-up a future position when they buy a currency future and then buy identical futures contracts prior to settlement O sell identical futures contracts prior to settlement buy a call option prior to settlement o sell a call option prior to settlement