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. Question Completion Status: (a) (i) State the difference between an investment asset and a consumption asset. (2 marks) (ii) Explain why the distinction between investment and consumption assets is important in the determination of forward and futures prices. (2 marks) (b) (1) Define the terms in the money and intrinsic value for an option. (3 marks) (ii) State the relationship between in the money and intrinsic value of an option. (1 mark) (ili) Explain why an in-the-money American option is often optimal for the holder to wait rather than exercise immediately. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers