When talking about the nature of a prince, Machiavelli said that it was important to choose the characteristics of a fox, instead of a lion, because the fox is smart enough to discover the snares (or pitfalls) in life

Over the last two decades stock market returns have been

A) over 25% each year. B) under 20% each year. C) negative for most years. D) in a range between -25% and +40%

One of the biggest differences between a futures option and a futures contract is that

A) the option limits the loss exposure to the price of the option. B) the futures contract limits the loss exposure to the price of the contract. C) an option can be traded on the secondary market, whereas a futures contract cannot. D) a futures contract can be traded on the secondary market, whereas an option cannot.