Which of the following statements regarding forward rate agreements (FRA) is false? An agreement to receive at the FRA rate locks in a forward deposit rate The payoff on a FRA is known at the time the contract is initiated O FRA is equivalent to a forward contract on a future interest rate The value of a FRA is the same whether it is settled in advance or in arrears Which of the following achieves a forward deposit from 30 days to 90 days? Taking a short position in the 30-day futures contract, where the underlying asset is a 60-day bill Taking a long position in the 30-day futures contract, where the underlying asset is a 90-day bill Taking a long position in the 30-day futures contract, where the underlying asset is a 60-day bill Taking a short position in the 30-day futures contract, where the underlying asset is a 90-day bill