1. Which of these contracts gives a right to the long and imposes an obligation on the short. a….

1. Which of these contracts gives a right to the long and imposes an obligation on the short.

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a. Forward contracts

b. Futures contracts

c. Options contracts

d. (a) and (b)

2. In the case of futures contracts which permit delivery of more than one specified grade, and/or at multiple locations, the right to choose the location and the grade

a. May in principle be given to either party

b. Must be given to the short

c. Is traditionally given to the short

d. Both (a) and (c)