I think you are correct. According to the notes:
In contrast, collateral posted against derivatives positions is, in most cases, under the control of the counterparty and may be liquidated immediately upon an ‘‘event of default’’. This is due to the laws governing derivatives contracts and the...
I can't be sure about that but I'm certain I had a lot of wrong answers. From the questions people are discussing and those that I remember, I already counted 17 wrong ones and that's certainly not the final number. I was really shocked after the exam because its length and difficulty are sooo...
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