True/False

1.Foreign currency futures contracts, regardless of the associated currency, are all based on 100,000 units of the foreign currency.

2.A Yen futures contract priced in U.S. dollars is exactly the same as a U.S. dollar futures contract priced in Yen.

3.Foreign exchange futures are sensitive to changes in interest rates.

4.The price of a foreign exchange futures contract is partially a function of the term of the futures contract.

5.Someone with a long hedge in foreign exchange futures could very logically take deliv¬ery of the foreign currency.

6.Someone with a short hedge in foreign exchange futures could very logically take delivery of the foreign currency.

7.Foreign exchange futures prices are a function of the cash price and the carrying costs associated with the futures contract.

8.Beta is a necessary component of most foreign currency hedges.