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NO.PZ2016082405000030

问题如下：

An analyst is studying the CDS spread curve for an established company. The 1-, 3- and 5-year spreads are 400 bps, 200 bps, and 150 bps, respectively. Which of the following interpretations of the data is most likely correct for the shape of the default distribution?

选项：

Default Distribution

Near-Term Slope

Upward sloping

flap slope

Downward sloping

steep slope

Upward sloping

steep slope

Downward sloping

flat slope

解释：

C The CDS spreads indicate a downward sloping spread curve. Note that the cumulative distribution of default is always increasing regardless of the slope of the spread curve. In addition, since the short-term probability of default is relatively high, the slope in the near term of the default distribution function is relatively steep.

不懂这题考的是什么？？求详细解答

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品职答疑小助手雍 · 2021年03月27日

嗨，从没放弃的小努力你好：

收益前半列问的是cumulative default distribution，因为直接给了400,200,150，要是问marginal的话一看就是向下，太直接了。

而cumulative的都是向上的。

后半列问的是cumulative default distribution图形短期是陡还是缓的。

陡和缓是看变化率的，短期变化的多（400到200），就是陡的；越长期变化的越缓慢（200到150），那长期就是缓的。

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虽然现在很辛苦，但努力过的感觉真的很好，加油！

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NO.PZ2016082405000030 analyst is stuing the C sprecurve for establishecompany. The 1-, 3- an5-yesprea are 400 bps, 200 bps, an150 bps, respectively. Whiof the following interpretations of the ta is most likely correfor the shape of the fault stribution? fault stribution Near-Term Slope Upwarsloping flslope wnwarsloping steep slope Upwarsloping steep slope wnwarsloping flslope C The C sprea incate a wnwarsloping sprecurve. Note ththe cumulative stribution of fault is always increasing regaress of the slope of the sprecurve. In aition, sinthe short-term probability of fault is relatively high, the slope in the neterm of the fault stribution function is relatively steep. 题目也没有说是问cumulative啊，我理解撑了marginfault stribution不行么

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2021-02-07 11:46 2 · 回答

analyst is stuing the C sprecurve for establishecompany. The 1-, 3- an5-yesprea are 400 bps, 200 bps, an150 bps, respectively. Whiof the following interpretations of the ta is most likely correfor the shape of the fault stribution? fault stribution Near-Term Slope Upwarsloping flslope wnwarsloping steep slope Upwarsloping steep slope wnwarsloping flslope C The C sprea incate a wnwarsloping sprecurve. Note ththe cumulative stribution of fault is always increasing regaress of the slope of the sprecurve. In aition, sinthe short-term probability of fault is relatively high, the slope in the neterm of the fault stribution function is relatively steep. 老师看答案的，还是觉得是b哇，讲义中纵轴就是fault stribution 啊

2020-03-07 10:58 1 · 回答

老师，这个题目为啥是看累计分布？题目也没说啊

2019-10-19 01:00 1 · 回答

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