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Basic Question 1 of 5

In the cash settlement of a CDS,

A. The buyer delivers the defaulted debt and seller pays the par value.
B. The buyer pays the par value and gets the defaulted debt from the seller.
C. The seller pays the buyer the difference between par value and post-default market value of the debt.

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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach

Andrea Schildbach

Learning Outcome Statements

describe credit events and settlement protocols with respect to CDS;

CFA® 2024 Level II Curriculum, Volume 4, Module 32.