1. You sell 4 May Silver futures contracts (each contract represents 5,000 ounces) at $15.25 per ounce. The initial margin per contract is $5,500 and the maintenance margin is $5,000 per contract. If Silver rises to $15.34, how much will be in your margin account?
   1. $5,500
   2. $20,200
   3. $21,000
   4. $22,000
   5. $23,800

2. December Eurodollar Futures are quoted at $98.28. What is the expected annualized LIBOR rate implied by that price?
   1. .86%
   2. 1.72%
   3. 3.45%
   4. 4.45%
   5. 6.55%

3. The initial margin (performance bond) for each wheat futures contract is $1,200 and the maintenance margin is $1,100. Each contract represents 5,000 bushels of wheat and the contract is quoted in cents. If you go longone contract at a quoted price of 402, what price would the wheat contract need to move to trigger a margin call?
   1. 398
   2. 400
   3. 401
   4. 404
   5. 406

Please provide an explanation to the answers