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3. Futures contracts A. are traded on the OTC markets b. are customizable c. have daily settlements d. none of the above 4. A swap is d. a contract that commits two parties to do a series of transactions at various specified future dates, typically involving the exchange of a series of cash flows. b. a contract that gives the buyer the right to exchange something c. a contract that gives the seller the right to exchange something d. none of the above 5. A call option priced at $3 with a current stock price of $35 and an exercise price of $38 allows the holder to buy the stock at a. S3 b. $32 c. $35 d. $38 6. A call option priced at $3 with e current stock price of $35 and an exercise price of 38 has an intrinsic value of a. S3 b. $35 c. 838 d. SO a 33