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which of the following statements about notional principal in a FRA agreement is least accurate? Notional principal: a. is not exchanged by the counterparties. b.

which of the following statements about notional principal in a FRA agreement is least accurate? Notional principal:

a. is not exchanged by the counterparties.

b. is used to calculate the fixed rate interest payment; the FRA's market value is used to calculate the floating rate payment.

c. does not vary during the FRA tenor.

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