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Basic Question 4 of 9
If you can pay a fee to transform a credit risky bond to a riskless bond, that fee should be equal to the bond's:
B. Expected loss.
C. Present value of the expected loss.
A. Loss given default.
B. Expected loss.
C. Present value of the expected loss.
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Learning Outcome Statements
explain expected exposure, the loss given default, the probability of default, and the credit valuation adjustment;
CFA® 2025 Level II Curriculum, Volume 4, Module 29.