Assume you are a floating rate borrower. Circle the position you would take in each of the following instruments to protect yourself against a rise in LIBOR rates: (you will circle one position for each type of derivative, i.e. whether you would Pay or Receive on a swap).

Positions (choose one for each scenario)

Swaption	Payer	Receiver
Swaps	Pay	Receive
Forward Rate Agreement	Long	Short
EuroDollar Futures	Long	Short
Interest Rate Option	Call	Put