Question $13(1$ point$)$ What is the primary difference between futures contracts and forward contracts? a$)$ The underlying assets of futures contracts are commodities, while the underlying assets of forward contracts are financial instruments. b$)$ Futures trade on an exchange while forwards trade over the counter. c$)$ The buyer of a futures contract is obligated to buy the underlying asset, while the buyer of a forward contract has the right, but not the obligation, to buy the underlying asset. d$)$ Delivery can occur at any time with a forward contract, while it can occur only at expiration for a futures contract. Page $11$ of $19$