A Ten Year Interest Rate Cap Has Quarterly Resets

question 2

Multiple Choice

A ten year interest rate cap has quarterly resets. How many caplets does the cap consist of?

• A) 38
• B) 39
• C) 40
• D) 41

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Definitions:

Photoreceptors

Specialized cells located in the retina of the eye that respond to light, enabling the perception of vision.

Cortex

The cortex is the outer layer of the cerebrum of the brain, involved in high-level functions such as consciousness, thought, emotion, reasoning, language, and memory.

Bipolar Cells

Nerve cells in the retina that are involved in the transmission of visual signals from the photoreceptors to the ganglion cells.

Optic Nerve

The nerve that transmits visual information from the retina to the brain, enabling sight.