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Which of the following statements regarding plain vanilla interest rate swaps is NOT correct? A. The counterparties agree to exchange interest payments. B. The full

Which of the following statements regarding plain vanilla interest rate swaps is NOT correct?

A. The counterparties agree to exchange interest payments.

B. The full amount of interest received by each party is paid to the other.

C. They are used to manage interest rate risk.

D. Payments from a fixed interest rate are exchanged with payments from a floating interest rate.

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