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Basic Question 4 of 6
Observed credit spreads reflect:
II. liquidity risk.
III. tax differences.
I. credit risk.
II. liquidity risk.
III. tax differences.
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I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz
Learning Outcome Statements
explain the determinants of the term structure of credit spreads and interpret a term structure of credit spreads;
CFA® 2025 Level II Curriculum, Volume 4, Module 29.