- CFA Exams
- CFA Level I Exam
- Study Session 13. Fixed Income (2)
- Reading 36. Credit Default Swaps
- Subject 3. Basics of valuation and pricing
CFA Practice Question
True or False? Generally, the probability of default is lower initially but is greater over a longer period of time.
Correct Answer: True
For example, the probability of default on the final interest and principal payment is greater that that on the first interest payment.
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