What is a derivative security? (Choose the correct answer from the list below.) An ownership stake in a company. A financial contract that derives its value from the performance of an underlying asset (or index). O A type of debt instrument, A type of security which is unregulated and has no oversight. What is a spot contract? (Choose the correct answer from the list below.) An option that can be exercised AT ANY TIME before the expiration date. An agreement to transact involving the FUTURE exchange of assets & funds. An agreement to transact involving the IMMEDIATE exchange of assets & funds. An insurance contract that exchanges present contributions for future income payments