开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

Faye · 2021年02月19日

可能出现双方同时违约吗

  1. CFA I
  2. Derivative

NO.PZ2018062007000091

问题如下：

A swap is:

选项：

A.

more like a forward than a futures contract.

B.

subject to simultaneous default by both parties.

C.

based on an exchange of two series of fixed cash flows

解释：

A is correct. A swap is a bit more like a forward contract than a futures contract in that it is an OTC contract, so it is privately negotiated and subject to default. B is incorrect because in a swap, although either party can default, only one party can do so at a particular time. Money owed is based on the net owed by one party to the other, and only the party owing the greater amount can default to the counterparty owing the lesser amount. C is incorrect because a swap involves an exchange between parties in which at least one party pays a variable series of cash flows determined by an underlying asset or rate.

为什么同一时间只有一方可以违约呢
添加评论
1 个答案

丹丹_品职答疑助手 · 2021年02月19日

嗨，爱思考的PZer你好：


同学你好，一般情况下，swap是由一系列的forward 的组成，在某个需要交易的时间点，双方会存在某方盈利某方亏损的情况，盈利方通常不会选择违约，尤其是基于理性人假设。


-------------------------------
努力的时光都是限量版，加油！


  • 1

    回答

  • 0

    关注

  • 565

    浏览
相关问题

NO.PZ2018062007000091问题如下 A swis:more like a forwartha futures contract. subjeto simultaneous fault both parties. C.baseon exchange of two series of fixecash flows A is correct. A swis a bit more like a forwarcontratha futures contrain thit is OTC contract, so it is privately negotiateansubjeto fault. B is incorrebecause in a swap, although either party cfault, only one party c so a particultime. Money oweis baseon the net oweone party to the other, anonly the party owing the greater amount cfault to the counterparty owing the lesser amount. C is incorrebecause a swinvolves exchange between parties in whileast one party pays a variable series of cash flows termineunrlying asset or rate. 中文解析A对，掉期合约更像远期合约而不是期货合约，因为它是一种场外交易合约，所以它是私下协商的，可能会违约。B是不正确的，因为在交换中，尽管任何一方都可以违约，但在某一时间点只有一方可以违约。C是不正确的，因为掉期涉及各方之间的交换，并非所有的swap都市固定现金流之间的互换，虽然现实中有一些swap是固定换固定，但是不能以偏概全 前面做了一道题 解析说只有short方会违约？

2023-10-16 18:53 1 · 回答

NO.PZ2018062007000091 问题如下 A swis: more like a forwartha futures contract. subjeto simultaneous fault both parties. C.baseon exchange of two series of fixecash flows A is correct. A swis a bit more like a forwarcontratha futures contrain thit is OTC contract, so it is privately negotiateansubjeto fault. B is incorrebecause in a swap, although either party cfault, only one party c so a particultime. Money oweis baseon the net oweone party to the other, anonly the party owing the greater amount cfault to the counterparty owing the lesser amount. C is incorrebecause a swinvolves exchange between parties in whileast one party pays a variable series of cash flows termineunrlying asset or rate. 中文解析A对，掉期合约更像远期合约而不是期货合约，因为它是一种场外交易合约，所以它是私下协商的，可能会违约。B是不正确的，因为在交换中，尽管任何一方都可以违约，但在某一时间点只有一方可以违约。C是不正确的，因为掉期涉及各方之间的交换，并非所有的swap都市固定现金流之间的互换，虽然现实中有一些swap是固定换固定，但是不能以偏概全 C错误的原因，与two series,没关系吗，为啥是两个系列，应该是 set of 吧？

2023-08-02 21:33 2 · 回答

NO.PZ2018062007000091问题如下 A swis:more like a forwartha futures contract. subjeto simultaneous fault both parties. C.baseon exchange of two series of fixecash flows A is correct. A swis a bit more like a forwarcontratha futures contrain thit is OTC contract, so it is privately negotiateansubjeto fault. B is incorrebecause in a swap, although either party cfault, only one party c so a particultime. Money oweis baseon the net oweone party to the other, anonly the party owing the greater amount cfault to the counterparty owing the lesser amount. C is incorrebecause a swinvolves exchange between parties in whileast one party pays a variable series of cash flows termineunrlying asset or rate. 中文解析A对，掉期合约更像远期合约而不是期货合约，因为它是一种场外交易合约，所以它是私下协商的，可能会违约。B是不正确的，因为在交换中，尽管任何一方都可以违约，但在某一时间点只有一方可以违约。C是不正确的，因为掉期涉及各方之间的交换，其中至少一方支付由标的资产或利率决定的可变现金流系列，而不能都是固定的现金流。 请问为什么要在swap中强调尽管两方都有可能违约，但是在某一时点只有一方会违约？forwarfutures在到期时不是也只有一方会违约吗？

2022-07-24 20:01 1 · 回答

C可以一下为什么？

2020-03-02 17:47 1 · 回答