CFA 2026 Level I Derivatives Swap Contracts Free Quiz 3

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CFA 2026 Level I Derivatives Swap Contracts Free Quiz 3

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CFA 2026 Level I Derivatives Swap Contracts Free Quiz 3

Practice CFA 2026 Level I Derivatives MCQs from Swap Contracts. Get instant results with Explanation.

General5 MCQs

21. What type of swap uses a commodity as the underlying?

A. Commodity swap.B. Interest rate swap.C. Currency swap.D. Credit swap.

22. What type of swap provides protection against credit default?

A. Commodity swap.B. Credit default swap (CDS).C. Interest rate swap.D. Currency swap.

23. What is a key characteristic of a swap contract?

A. Standardized.B. Exchange-traded.C. Customized.D. Non-negotiable.

24. Is a swap a derivative?

A. A spot instrument.B. A forward contract.C. An option contract.D. A derivative instrument.

25. How can an interest rate swap be used for hedging?

A. To hedge interest rate risk.B. To increase interest rate risk.C. To speculate on interest rates.D. To avoid all interest rate risk.

General5 MCQs

26. How can a currency swap be used for hedging?

A. To speculate on exchange rates.B. To hedge foreign exchange risk.C. To arbitrage exchange rates.D. To avoid all currency risk.

27. What is the value of a swap over its life?

A. Always positive.B. Always negative.C. Can be positive or negative.D. Always zero.

28. How can a swap transform asset returns?

A. Fixed to fixed.B. Floating to floating.C. No transformation.D. Fixed to floating or floating to fixed.

29. What is an interest rate swap equivalent to?

A. A portfolio of forward contracts (FRAs).B. A futures contract.C. An option contract.D. A spot transaction.

30. How is the value of a swap determined after inception?

A. The notional amount.B. Present value of the difference in cash flows.C. The par value.D. The spot price.

📋 CFA - Test Online Practice Quizzes

CFA

Conducting Body: CFA Institute

Frequency: 4 times a year (February, May, August, November) | Time: 135 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 90 MCQs):

Alternative Investments: 8 MCQs
Corporate Issuers: 7 MCQs
Derivatives: 5 MCQs
Economics: 7 MCQs
Equity Investments: 12 MCQs
Ethics: 16 MCQs
Financial Statement Analysis: 11 MCQs
Fixed Income: 11 MCQs
Portfolio Management: 9 MCQs
Quant Methods: 6 MCQs

Merit Formula: -

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