If a delegatee has not assumed the duties under a contract, the delegatee is not liable to the obligee for nonperformance

State Owned Enterprises (SOEs) by their very name cannot be traded on stock exchanges because they are government owned

Indicate whether the statement is true or false.

Explain the pattern of implied volatility that is often referred to as a smirk. (Use a call as your example.)

What will be an ideal response?