01 What is a futures contract?

A share in a companyA standardised agreement to buy or sell an asset at a set price on a future dateA loan from a brokerAn insurance policy

02 What is the tick value of one E-mini S&P 500 (ES) contract?

$0.50$5.00$12.50$50.00

03 NQ moves 10 points. How much is that per E-mini NQ contract?

$50$200$500$20

04 How does a Micro E-mini compare with its E-mini?

It moves twice as fastIt tracks a different indexIt is one tenth of the size, so each tick is worth one tenth as muchIt has no margin

05 What happens if an account falls below maintenance margin?

Nothing until expiryThe broker can demand more funds or close the positionThe exchange refunds the marginThe contract is rolled automatically

06 Can losses on a futures position exceed the margin posted?

No, margin caps the lossYesOnly on micro contractsOnly overnight

07 Why should a session-based strategy be written in the market's local time?

Exchanges require itBecause countries change their clocks on different dates, so a fixed time zone driftsIt makes charts fasterIt reduces margin

08 A stop is 80 ticks away on MNQ ($0.50 per tick). What is the risk on 2 contracts, before costs?

$40$80$160$800

09 Is a stop order guaranteed to fill at its price?

Yes, alwaysNo, fast markets can cause slippageOnly during the New York sessionOnly on E-mini contracts

10 What is 'rolling' a futures position?

Closing a losing tradeMoving from an expiring contract to the next oneDoubling position sizeSwitching brokers

Quiz: Futures Trading Foundations