In a plain-vanilla interest rate swap, which statements are true about the fixed leg and floating leg and what DV01 measures?

In a plain-vanilla interest rate swap, which statements are true about the fixed leg and floating leg and what DV01 measures?

• A. Fixed leg pays a constant coupon; floating leg resets with reference rates; DV01 measures change in swap value for a 1bp change in rates.
• B. Fixed leg pays a constant coupon; floating leg pays fixed rate; DV01 measures change for a 1% change.
• C. Fixed leg is the notional; floating leg pays interest; DV01 is irrelevant.
• D. Fixed leg and floating leg are interchangeable; DV01 is unrelated.

Answer: (A)