简答题\n A company enters into an interest rate swap where it is paying fixed and receiving LIBOR. When interest rates increase, which of the following is true? A、The value of the swap to the company increases B、The value of the swap to the company decreases C、The value of the swap can either increase or decrease D、The value of the swap does not change providing the swap rate remains the same\n简答题\n Company X and Company Y have been offered the following rates: Fixed Rate Floating Rate Company X 3.5% 3-month LIBOR plus 10bp Company Y 4.5% 3-month LIBOR plus 30 bp Suppose that Company X borrows fixed and company Y borrows floating. If they enter into a swap with each other where the apparent benefits are shared equally, what is company X’s effective borrowing rate? A、3-month LIBOR−30bp B、3.1% C、3-month LIBOR−10bp D、3.3%\n简答题\n Which of the following describes an interest rate swap? A、A portfolio of forward rate agreements B、The exchange of a fixed rate bond for a floating rate bond C、An agreement to exchange interest at a fixed rate for interest at a floating rate D、All of the above\n简答题\n Which of the following is true? A、Principals are not usually exchanged in a currency swap B、The principal amounts usually flow in the opposite direction to interest payments at the beginning of a currency swap and in the same direction as interest payments at the end of the swap. C、The principal amounts usually flow in the same direction as interest payments at the beginning of a currency swap and in the opposite direction to interest payments at the end of the swap. D、Principals are not usually specified in a currency swap. \n简答题\n The reference entity in a credit default swap is A、The buyer of protection B、The seller of protection C、The company or country whose default is being insured against D、None of the abov\n