ACI 3I0-013 Question Answer
Which of the following statements best describes an asset swap?
A combination of a fixed rate bond and a fixed/floating interest rate swap
An option on fixed/floating interest rate swap
The sale of a bond against cash with a simultaneous agreement to buy the bond at an agreed upon rate and date
The sale of a fixed rate bond against the simultaneous purchase of a floating rate note
TESTED 15 Feb 2026
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