P4 revision questions

HI John I have question about SWAP. in the revision notes, we normally do like this Fixed Floating X 5% LIBOR (X wants the floating rate and Y wants fixed rate) Y 6% LIBOR + ½% during the swap process, X Y L+0.5% 5% However, during the JUNE 14 Q1 recording, you also mentioned that this method would be differently. in that question, when we do SWAP, we also use this example to illustrate. x Y 5% L+0.5%. SO in what situations can we use this method(method in the JUNE14)? and which one is correct? if both are correct, I could use both method for any SWAP questions? thanks so much?