单选题 Which of the following statements about swap agreements is FALSE?

A、 They are standardized agreements, similar to futures.
B、 Interest rate and currency are common types of swaps.
C、 They allow for the exchange of different sets of future cash flows.

【正确答案】 A

【答案解析】A swap is an agreement between two or more counterparties to exchange (swap) cash flows over a specified future period. Swaps are flexible because, unlike futures, they are custom tailored to meet the needs of the specific counterparties involved in the agreement. Common types are interest rate and foreign currency swaps.