2021年CFA考试《Level Ⅰ》考试题库-CFA考试（Level Ⅰ）-Mock Exam 1 Afternoon Session-

财会经济-CFA特许金融分析师

单选题-A private agreement between two parties to exchange a series of future cash flows, with at least one of the two series of cash flows determined by a later outcome, is best characterized as a (n):

单选题

A.swap

B.Futures contract

C.Over-the-counter contingent claim

我个人认为这个应该是：A

解析：A swap is equivalent to a series of forward contracts.