Answer all pls

32. A firm borrows funds at a variable interest rate. Buying which of the following instruments would help the firm protect itself against increases in the market rate of interest? A. Call options B. Put options C. Currency swaps D. None of the above 33. Which of the following is not a common characteristic of interest rate swaps? A. Payments made by both parties are in different currencies B. The contract is usually based on a "notional" principal amount C. They trade over the counter D. Interest rate swaps are used to hedge against or speculate on changes in interest rates. 34. Allan enters into a derivative contract with one of his clients. The client is expected to sell the underlying asset to Allan at the expiration date at price P. Allan wishes to fully hedge his position using derivatives. Which of the following can help him achieve his goal? A. Sell a p-strike call B. Purchase a p-strike call and sell a p-strike put C. Sell a p-price call and buy a p-price put D. Subscribe to a long forward contract with forward price P 35. Matthew enters into a derivative position with one of his real estate customers. Under the terms of the contract, the customer is obligated to sell the underlying asset to Matthew if the spot price at the expiration is more than P. Matthew, on the other hand, has the right to sell the underlying asset to the customer if the spot price at expiration is less than P. Which of the following describes Matthew's position? A. Matthew enters into a short forward contract B. Matthew enters into a long forward contract C. Matthew purchases a P-strike call and a P-strike put D. Matthew purchases a P-strike call and sells a P-strike put 36. A construction firm wishes to enter into cleared derivative positions in order to manage risks such as price variation of raw materials and increase in interest rates. However, the firm is aware of a few problems that could accompany the decision to invest in exchange-traded derivatives. Which of the following should be the least of the management's worries? A. Liquidity risk B. Counterparty risk C. Market risk D. Transactional costs