Clue: Compromising exchanges foolishly flirting Fancy-Fancy at first dares to produce (5-4)
Answer: TRADE-OFFS
Explanation: an anagram/"foolishly… to produce" of (F F dares to), with the F F coming from F[lirting] F[ancy-Fancy] at first
 
perhaps also 'exchanges foolishly flirting Fancy-Fancy at first' indicates a TRADE OF F'S?