问题如下：
If we assume that the value at risk (VAR) for the portfolio of trades with a given counterparty can be viewed as a measure of potential credit exposure, which of the following could not be used to decrease this credit exposure?
选项： A
netting agreement
Collateral
C.A credit derivative that pays out if the counterparty defaults
D.An offsetting trade with a different counterparty
解释：
ANSWER: D
An offsetting trade with a different party will provide no credit protection. If the first party defaults while the contract is in-the-money, there will be a credit- loss.
老师offseting是不是，比入我空1手，在做多一手，两手未平，所以抵消的是mlt risk
netting 是在一个时间点，把手头合约全部拿过来加加减减，最后压缩成1,2张的意思
如果netting后合约减少的，那和close out 似乎是差别也不大，两者的共同点都是合约减少了，理解对吗
