问default distribution默认就是cumulative default rate curve吗？

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.

题目也没有说是问cumulative啊，我理解撑了marginal default distribution不行么

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袁园_品职助教 · 2021年05月05日

同学你好！

这里确实应该说地更明白一些，是在问 cumulative default distribution

不过他也问了Near-Term Slope，这个是描述 cumulative default distribution 图形的，所以这样看来，理解成 cumulative 也更合适一些

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问default distribution默认就是cumulative default rate curve吗？

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