Which of the Below Statements Is TRUE

Multiple Choice

Which of the below statements is TRUE?

A) The convention that has evolved for quoting swaps levels is for a swap dealer to set the floating rate greater than the index and then quote the fixed rate that will apply.
B) The swap spread is determined by different factors than what drive the spread over Treasuries on instruments that replicate a swap's cash flows.
C) Given that a swap is not a package of futures/forward contracts, the shorter-term swap spreads respond directly to fluctuations in Eurodollar CD futures prices.
D) There are three general types of transactions in the secondary market for swaps. These include (1) a swap reversal, (2) a swap sale (or assignment) , and (3) a swap buy-back (or close-out or cancellation) .