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In a fourth-to-default swap on a basket of ten companies, which is true? here is a payoff the first second, third, or fourth time a
In a fourth-to-default swap on a basket of ten companies, which is true? here is a payoff the first second, third, or fourth time a company in the basket defaults There is a payoff the fourth or later time a company in the basket defaults There is a payoff the fourth time a company in the basket defaults There is a payoff when any company in the basket defaults. None of the above
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