dilly24 · 2024年04月29日
NO.PZ2021120102000026
问题如下：
Which of the following phases of the credit cycle typically involves a decline in the number of issuer defaults?
选项：
A.Late expansion phase
Early expansion phase
Peak phase
解释：
A is correct. The late expansion phase is typically associated with accelerating growth, peak profits, stable leverage, and a decline in defaults.
请问C为什么不对？Peak phase为什么不是decline in issuer default啊？
发亮_品职助教 · 2024年05月03日
嗨，从没放弃的小努力你好：
Peak阶段的Default是stable的，并非是下降的。
Peak可以理解成是经济最佳时的一个顶峰点，这一点时经济不可能更好，企业的经营也不可能更高，所以Corporate default企业的违约不可能进一步下降了，此时违约default达到Stable状态（达到最低default状态）。
而在Late expansion阶段，经济还未上升至Peak，经济还有上升的余地，企业经营还有上升的余地，所以Default还要下降的余地，于是在Late expansion极端，Default是falling的
在Earling expansion阶段，经济刚复苏，公司的违约Default达到最大（peak），但有下降的趋势存在
----------------------------------------------加油吧，让我们一起遇见更好的自己！
NO.PZ2021120102000026 问题如下 Whiof the following phases of the cret cycle typicallyinvolves a cline in the number of issuer faults? A.Late expansion phase B.Early expansion phase C.Pephase A is correct. The late expansion phase is typicallyassociatewith accelerating growth, peprofits, stable leverage, ana cline infaults.
NO.PZ2021120102000026问题如下 Whiof the following phases of the cret cycle typicallyinvolves a cline in the number of issuer faults? A.Late expansion phaseB.Early expansion phaseC.Pephase A is correct. The late expansion phase is typicallyassociatewith accelerating growth, peprofits, stable leverage, ana cline infaults. 我感觉peak和late expansion阶段其实性质都差不多，为什么一个违约率是稳定的。一个是下降的
NO.PZ2021120102000026 问题如下 Whiof the following phases of the cret cycle typicallyinvolves a cline in the number of issuer faults? A.Late expansion phase B.Early expansion phase C.Pephase A is correct. The late expansion phase is typicallyassociatewith accelerating growth, peprofits, stable leverage, ana cline infaults. 根据讲义的图，peak的时候cret curve更加陡峭
NO.PZ2021120102000026 问题如下 Whiof the following phases of the cret cycle typicallyinvolves a cline in the number of issuer faults? A.Late expansion phase B.Early expansion phase C.Pephase A is correct. The late expansion phase is typicallyassociatewith accelerating growth, peprofits, stable leverage, ana cline infaults. RT
