FRM真题的练习到底有没有用？

备考FRM考试的冲刺阶段，会有很多人说多做练习题，那么，FRM真题的练习到底有没有用？其实，融跃小编想告诉你，做大量的真题练习是很有必要的，尤其是近几年的FRM真题练习。下面是FRM真题解析，希望对你有所帮助！

A5-year credit default swap (CDS) specifying physical delivery defaults at the end of 5 years. If the reference asset is a $100 million, 7.0% corporate bond,and the CDS spread is 150 basis points, the buyer of the CDS will:》》2021年新版FRM一二级内部资料免费领取！【精华版】

A) Receive payments of 800 basis points for the next 5 years.

B) Continue to receive payments of 950 basis points for the next 5 years.

C) Deliver the bond and receive a payment of $100 million.

D) Continue to receive payments of 650 basis points for the next 5 years.

答案：C

解析：If the swap specifies physical delivery, the buyer of the swap will deliver the reference obligation to the seller and receive the par value of the obligation.

XYZ Finance has lent $10 million toABC Inc. for one year at 9%, and entered into a credit default swap with Credit Insurers for 150 basis points. If the swap calls for semi-annual payments, what is due on the first payment assuming that no default has occurred?

A) Credit Insurers will pay XYZ Finance $150,000.

B) XYZ Finance will pay Credit Insurers $150,000.

C) Credit Insurers will pay XYZ Finance $75,000.

D) XYZ Finance will pay Credit Insurers $75,000.

答案：D

解析：Commercial Finance will pay Credit Insurers the sum equal to: $10,000,000?0.015/2 = $75,000

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