NO.PZ2020033003000107
问题如下：
Which of the following statements least accurately describe counterparty risk and lending risk?
选项：
A. For an
interest-rate swap, there is no counterparty risk at the end of the contract
term because all payments required by the contract would have been made by
then.
B. With counterparty risk, there is
uncertainty as to which counterparty will have a negative mark-to-market value.
C. Counterparty risk is typically bilateral while lending risk is typically unilateral.
D. With lending risk, the principal
amount at risk is known with absolute certainty at the outset.
解释：
D is correct.
考点： Counterparty risk and lending risk
解析：
The principal amount at risk is known only with reasonable certainty at the outset because changes in interest rates, for example, will lead to some uncertainty.
这里老师上课讲的是lending risk的exposure是确定的，为什么又变成不确定的？到底什么？
