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一只可爱的猪 · 2020年03月02日

问一道题:NO.PZ2018062007000091

问题如下:

A swap is:

选项:

A.

more like a forward than a futures contract.

B.

subject to simultaneous default by both parties.

C.

based on an exchange of two series of fixed cash flows

解释:

A is correct. A swap is a bit more like a forward contract than a futures contract in that it is an OTC contract, so it is privately negotiated and subject to default. B is incorrect because in a swap, although either party can default, only one party can do so at a particular time. Money owed is based on the net owed by one party to the other, and only the party owing the greater amount can default to the counterparty owing the lesser amount. C is incorrect because a swap involves an exchange between parties in which at least one party pays a variable series of cash flows determined by an underlying asset or rate.

C可以解释一下为什么?

1 个答案

xiaowan_品职助教 · 2020年03月02日

嗨,努力学习的PZer你好:


同学你好,C错在swap并不一定是fixed cash flows,swap可能是固定利率换浮动利率,也可能是固定利率换权益类收益,所以说两边都是fixed是不准确的


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