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Q18. Which of the following statements involving a plain vanilla interest rate swap is least accurate? In a plain interest rate swap, the:
A) counterparty who receives the fixed payment by agreeing to pay variable rate interest is called the receive-fixed side of the swap.
B) parties generally agree to swap the notional principal.
C) parties involved in the swap agreement are called counterparties.
Q19. Which transaction would least likely be classified as an interest rate swap?
A) Receive AUD fixed, pay NZD floating.
B) Receive U.S. fixed, pay U.S. commercial paper.
C) Pay USD fixed, receive U.S. LIBOR.
Q20. Which of the following statements about a currency swap is least accurate?
A) The periodic interest payments are exchanged in full each period.
B) Most currency swaps are done to exploit market inefficiencies.
C) Notional principal is exchanged at the termination of the swap.
Q21. Which of the following statements about notional principal in plain vanilla interest rate swaps is least accurate? Notional principal:
A) is used to calculate the fixed rate interest payment; the swap's market value is used to calculate the floating rate payment.
B) is not exchanged by the counterparties.
C) does not vary during the swap tenor.
Q22. Which of the following is NOT considered a reason for using the swaps market? To:
A) exploit market inefficiencies.
B) reduce transactions costs.
C) maintain privacy.
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发表于 2009-3-2 11:15
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