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　　A knock-in barrier option is harder to hedge when it is:
　　A.     In the money and near maturity.
　　B.     Out of the money and at the inception of the trade.
　　C.     At the barrier and near maturity.
　　D.     At the barrier and at the inception of the trade.
　　Answer: C
　　Owing to their inherent discontinuities, both knock-in and knock-out barrier options are relatively difficult to hedge (and value) when the spot price is close to the barrier price and the contract is near maturity.