题目
A forward rate agreement (FRA):
选项
A.can be used to hedge the interest rate exposure of a floating-rate loan.
B.is risk-free when based on the Treasury bill rate.
C.is settled by making a loan at the contract rate.
D.is priced in dollars.
答案
A
解析
An FRA settles in cash and carries both default risk and interest rate risk, even when based on an essentially risk-free rate. It can be used to hedge the risk/uncertainty about a future payment on a floating rate loan.FRA以现金结算，即使是基于基本无风险的利率，也会带来违约风险和利率风险。它可以用来对冲浮动利率贷款未来偿付的风险/不确定性。