Which of the following will increase the value of a put option according to the Black-Scholes model?

		A decrease in the exercise price.
		An increase in the spot price of the underlying asset.
		A decrease in the volatility of the underlying asset.
		None of the above

As the number of branches increase, the value of a call or put option obtained by using the binomial option pricing model will converge to the price obtained using the Black-Scholes option pricing model.

true or false

All of the variables relevant to the Black-Scholes model are known with certainty.

true or false