FRM 2026 Part I Financial Markets and Products Swaps Free Quiz 2

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FRM 2026 Part I Financial Markets and Products Swaps Free Quiz 2

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FRM 2026 Part I Financial Markets and Products Swaps Free Quiz 2

Practice FRM 2026 Part I Financial Markets and Products MCQs from Swaps. Get instant results with Explanation.

General10 MCQs

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

A. An interest rate swap can convert a floating-rate loan to a fixed-rate loanB. An interest rate swap can convert a fixed-rate loan to a floating-rate loanC. An interest rate swap can eliminate all interest rate riskD. An interest rate swap is not used for hedging

2. What is the role of swap dealers?

A. Swap dealers are not important in the swap marketB. Swap dealers only trade for their own accountsC. Swap dealers do not earn profitsD. Swap dealers act as intermediaries and facilitate swap transactions

3. How can a swap be terminated before maturity?

A. A swap cannot be terminated before maturityB. A swap can be terminated early by paying the current value of the swapC. A swap can be terminated without any costD. A swap is automatically terminated if rates change

4. How is a swap priced?

A. Swap pricing is based on the spot rateB. Swap pricing is based on the historical ratesC. Swap pricing sets the fixed rate so that the initial value is zeroD. Swap pricing is not important for swap contracts

5. What is a basis swap?

A. A basis swap involves two floating rates based on different indicesB. A basis swap involves a fixed rate and a floating rateC. A basis swap is the same as a plain vanilla swapD. A basis swap is only for currencies

General10 MCQs

6. What is an amortizing swap and a step-up swap?

A. An amortizing swap has a constant notional principalB. A step-up swap has a declining notional principalC. Amortizing swaps are not used in practiceD. An amortizing swap has a declining notional principal; a step-up swap has an increasing notional principal

7. What is the credit valuation adjustment (CVA)?

A. CVA is the same as the swap rateB. CVA is the adjustment for counterparty credit risk in swap valuationC. CVA is always zeroD. CVA is not used in swap pricing

8. What is the debit valuation adjustment (DVA)?

A. DVA is the same as CVAB. DVA is the adjustment for counterparty credit riskC. DVA is the adjustment for the entity's own credit riskD. DVA is not used in swap pricing

9. What is the swap curve?

A. The swap curve plots swap rates against maturitiesB. The swap curve is the same as the yield curveC. The swap curve is only for one maturityD. The swap curve is not used in practice

10. How are swaps regulated?

A. Swaps are not regulatedB. Swaps are only regulated in the USC. Regulation of swaps is not importantD. Swaps are regulated and standardized swaps may require central clearing

📋 FRM - Test Online Practice Quizzes

FRM

Conducting Body: Global Association of Risk Professionals GARP

Frequency: three times a year: May, August, and November | Time: 240 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 100 MCQs):

Foundations of Risk Management: 25 MCQs
Quantitative Analysis: 25 MCQs
Financial Markets and Products: 25 MCQs
Valuation and Risk Models: 25 MCQs

Merit Formula: -

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