A futures contract is standardized and typically specifies one delivery month/date (or one designated settlement date), unlike a forward contract which is more customized.

Why the others are incorrect:

• A: A range of delivery dates is more characteristic of forwards.
• C: Futures have much less counterparty risk because they are exchange-traded and marked to market daily.
• D: Futures are not only settled at the end; they are marked to market daily.

Correct answer: B