- CFA Exams
- CFA Exam: Level II 2021
- Study Session 13. Fixed Income (2)
- Reading 35. Credit Analysis Models
- Subject 5. Interpreting changes in a credit spread
CFA Practice Question
Observed credit spreads reflect:
II. liquidity risk.
III. tax differences.
I. credit risk.
II. liquidity risk.
III. tax differences.
Correct Answer: I, II and III
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