NO.PZ2023040401000070
问题如下：
Which of the following statements is wrong associated with the interest rate swap position?
选项：
A.
Both a receive-fixed and a pay-fixed swap counterparty will face an initial swap contract value (ignoring transaction and counterparty credit costs) of zero.
B.
A receive-fixed swap party will make a net payment if the initial market reference rate sets above the fixed swap rate.
C.
A receive-fixed swap party will realize an MTM gain if implied forward rates rise.
解释：
The swap contract has a value of zero at the beginning, regardless of which of the two parties to the swap is involved, Statement A is correct.
Since the party receiving the fixed rate there is a net expense when interest rates rise and the variable rate paid is higher than the fixed rate received. Statement B is correct, and Statement C is incorrect.
swap在每期处置的时候就能知道固定利率吗，还是在最后才能知道
