Question 23 (4 points) A 6-month forward contract on the S&R index is priced at $1050. If the index price at expiration is $1020. With cash settlement. the short pays long 530, with no transfer of the index O the long pays short $30. with no transfer of the index Onone of the above. Question 24 (4 points) Assume that you open an 80 share short position in Microsoft Corporation common stock at the bid-ask price of $198.35 - $198.45. When you dose your position, the bid-ask prices are $199.06 - $199.13. If you pay a commission rate of 0.4%, what is your profit or loss on the short investment? O $176.00 loss $62.65 loss $189.59 loss $49.00 loss Question 25 (4 points) Which of the following is NOT true? In general, over the counter trading is not easy to observe or measure and is less regulated. By definition of a derivative, installment sales agreement is not a derivative instrument in measuring the activity of financial markets, open interest counts the number of financial claims that change and it is possible for large traders to trade many financial claims directly with a dealer bypassing organized exchanges Such trading is said to occur in the over the counter (OTC) market