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Which of the following statements regarding the Financial Futures Market is NOT true: A) A futures contract is a firm legal agreement between a buyer

Which of the following statements regarding the Financial Futures Market is NOT true: A) A futures contract is a firm legal agreement between a buyer and a seller in which the buyer agrees to take delivery of something at the futures price at the settlement date and the seller agrees to make delivery. B) Futures contracts are leveraged instruments that can be used to control risk. C) Associated with a futures exchange is a central bank, which provides a guarantee function. D) Futures contracts are marked to market at the end of each trading day.

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