Level 1 Question?

jjrr007

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Is a swap a contingency claim?
Is a option a contingency claim?
Is a swap a type of option?
 
I remember a question similar to that on the June '04 test. It's useless questions like that one that make me question the true knowledge testing power of the CFA exam.

Congrats to anyone who got it correct, but outside of Jeopardy! or some CFA trivia night at the office, how useful is that quesion?
 
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