The price specified in an option contract at which the holder can buy or sell the underlying asset is called the ________

Mary is concerned that inflation will reduce the purchasing power of her life insurance proceeds when she dies. To provide protection against this risk, she added a rider to her policy that allows her to purchase one-year term insurance equal to the cumulative change in the consumer price index from the issue date of the policy. This provision is called a:

(a) Cost-of-living rider (b) Guaranteed purchase option (c) Waiver-of-premium provision (d) Change of plan provision

You are the account manager of a bank. Your customer, Hank Arbuthnot, applies for an increase in the line of credit for his business. He offers a mortgage on his cottage as security. You know that Hank is married. Which of the following is FALSE?

A) You should obtain a personal guarantee from Hank B) You should obtain a personal guarantee from Hank's wife. C) If the cottage is registered only in Hank's name, you needn't worry about getting a consent to the mortgage from Hank's wife D) If you insist on a guarantee from Hank's wife, you should ensure that she receives independent legal advice. E) If the cottage is registered in both Hank's and his wife's name, you must obtain her consent to the mortgage.