Which of the Below Statements Is FALSE

Multiple Choice

Which of the below statements is FALSE?

A) In the absence of a credit event, the protection buyer will make a quarterly swap premium payment over the life of the swap.
B) If a credit event occurs, there are no further payments of the swap premium by the protection buyer to the protection seller.
C) If a credit event occurs, a termination value is determined for the swap.
D) With physical settlement the protection seller delivers a specified amount of the face value of bonds of the reference entity to the protection buyer.