GSC ABC School: Fundamentals

10 Questions | Total Attempts: 44

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School Quizzes & Trivia

Chapter 1


Questions and Answers
  • 1. 
    With a limit order, your order cannot be executed higher than a buy price you indicate, or lower than the indicated selling price.
    • A. 

      True

    • B. 

      False

  • 2. 
    An order that remains unexecuted at the end of the trading session is known as a(n)
    • A. 

      Broken order

    • B. 

      Fill

    • C. 

      Limit order

    • D. 

      Unable

  • 3. 
    Which of the below choices is the correct way to place the following spread order? Ex. To roll 50 long May'13 soybean futures to the July'13 at the market
    • A. 

      Sell 50 July'13 soybeans, Buy 50 May'13 soybeans at the market

    • B. 

      Buy 50 July'13 soybeans, Sell 50 May'13 soybeans at the market

    • C. 

      Sell 50 July'13 soybeans, Buy 50 May'13 corn at the market

    • D. 

      Buy 50 May'13 soybeans, Sell 50 July'13 soybeans at the market

  • 4. 
    When you hold a futures position, short or long, you must maintain a certain amount of funds in you brokerage account as "good faith" money to ensure performance, true or false?
    • A. 

      True

    • B. 

      False

  • 5. 
    Select all of the below choices that are essential to placing a futures order
    • A. 

      Order type (Day, MKT, GTC, etc.)

    • B. 

      Number of contracts

    • C. 

      Amount of bushels

    • D. 

      Buy or sell

    • E. 

      Contract month

    • F. 

      Commodity

    • G. 

      Basis amount

  • 6. 
    If you sell grain to a feed customer or other buyer, what do you do with the futures contracts during a futures exchange versus cash?
    • A. 

      Buy

    • B. 

      Sell

    • C. 

      Give

    • D. 

      Take

  • 7. 
    What is missing from the following futures open order? Sell 10 November'13 beans 12.76
    • A. 

      Contract year

    • B. 

      Buy or sell

    • C. 

      Order type (Day, GTC)

    • D. 

      Price

  • 8. 
                is the difference between cash price and futures price
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