题目：
When one party pays a fixed rate of interest in an equity swap, which of the following is FALSE()
A. Unlike other swaps, in an equity swap the one-quarter-ahead payment is not known at the end of the previous quarter.
B. The equity-return payer will receive the fixed-rate minus the equity return.
C. The fixed-rate receiver will never get more than the fixed rate.
答案：
参考答案：C
解析：
If the periodic return on the equity is negative, the fixed-rate payer must pay the fixed rate plus the percentage of (negative) equity return, times the notional principal.
