1- The put-call parity relationship is based upon the intuition that :

a) Two portfolios with the same components would lead to the same current payoff.

b) Two portfolios with the same present payoff have systematically the same future value.

c) Two portfolios with the same components would lead to the same future payoff.

d) Two portfolios with the same current payoff have systematically the same components.

e) Two portfolios with the same future payoff have systematically the same present value.

f) Two portfolios with the same maturity payoff have systematically the same components.

2- Considering a reverse conversion arbitrage strategy, which of the following statements related to the arbitrage operations is false?

a) Sell the put option.

b) Lend money.

c) Buy the call option.

d) Buy the commodity.

e) Borrow money.