Question $8$

When you are short a position in a $36$ FRA, you are effectively

Long the three$-$month zero$-$coupon bond, and short the six$-$month zero$-$coupon bond.

Long the three$-$month zero$-$coupon bond, and long the six$-$month zero$-$coupon bond.

Short the three$-$month zero$-$coupon bond, and short the six$-$month zero$-$coupon bond.

Short the three$-$month zero$-$coupon bond, and long the six$-$month zero$-$coupon bond.