- CFA Exams
- CFA Level I Exam
- Topic 6. Fixed Income
- Learning Module 28. The Term Structure and Interest Rate Dynamics
- Subject 3. The Swap Rate Curve and the Swap Spread
CFA Practice Question
The Treasury curves are different from swap curves because of differences in:
II. market liquidity.
III. arbitrage activities.
I. credit risks.
II. market liquidity.
III. arbitrage activities.
Correct Answer: I, II and III
They can differ because of differences in their credit exposures, liquidity, and other supply/demand factors.
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