True or false? A put with a shorter time to expiration should never sell for more than a put with the same strike price with a long time to expiration.

Correct Answer: True

If it did, you would buy the put with the shorter maturity and sell the put with the longer maturity (i.e, create a calendar spread) and lock in a profit today. When the first put expires, you will either exercise the second put (and have no cashflows) or sell it (and make a further profit).