An Interest Rate Swap

question 1

Multiple Choice

An interest rate swap

• A)involves a swap buyer who agrees to make a number of variable-rate payments on periodic settlement dates.
• B)involves a swap seller who agrees to make a number of fixed-rate payments on periodic settlement dates.
• C)is effectively a succession of forward contracts on interest rates.
• D)involves comparative advantage by the fixed-rate side of the swap,but not the variable-rate side.

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