47、A private agreement between two parties to exchange a series of future cash flows, with at least one of the two series of cash flows determined by a later outcome, is best characterized as a(n): A. swap. B. futures contract. C. exchange-traded contingent claim. D. over-the-counter contingent claim.
Correct answer = A
"Derivative Markets and Instruments," Don M. Chance
2008 Modular Level I, Vol. 6, pp. 8-13
Study Session 17-70-b
define a forward commitment and a contingent claim, and describe the basic characteristics of forward contracts, futures contracts, options (calls and puts), and swaps
A swap is equivalent to a series of forward contracts. | 
发表于 2008-6-6 23:53
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