请老师帮忙解答一下

问题如下：

QuestionWhen parties exchange fixed cash payments for payments that depend on the returns to a stock or a stock index, they are purchasing a(n):

选项：

A.equity swap.

B.index fund.

C.stock option.

解释：

Solution

A is correct. Equity swaps consist of parties exchanging fixed cash payments for payments that depend on the returns to a stock or a stock index.

B is incorrect. The payments depend on the returns to a stock or a stock index, but an index fund has not been directly purchased.

C is incorrect. An option contract allows the holder (the purchaser) of the option to buy or sell an underlying instrument at a specified price at or before a specified date in the future.