问题
单项选择题
A forward rate agreement (FRA) :()
A. must consider the creditworthiness of the parties making the deal when determining the rate.
B. requires the long to pay cash to the short if the rate specified in the contract at expiration is below the current floating rate.
C. can sometimes be viewed as the right to borrow money at below-market rates.
答案
参考答案：C
解析：
If the floating rate is above the rate specified in the agreement, the long position can be viewed as the right to borrow at below-market rates. Since the contracts are settled in cash and no loan is made, the creditworthiness of the parties is irrelevant to the forward interest rate, so a riskless rate (or close proxy, such as LIBOR) can be specified in the contract.