单选题 A swap is best characterized as a

A、 series of forward contracts.
B、 derivative contract that has not gained widespread popularity.
C、 contract that is binding on only one of the parties to the transaction.

【正确答案】 A

【答案解析】A swap is most like a series of forward contracts. An example is a swap in which one party makes a set of fixed-rate payments over time in exchange for a set of floating-rate payments based on some notional amount.