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Basic Question 4 of 6

Observed credit spreads reflect:

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

Tamara Schultz

Learning Outcome Statements

interpret changes in a credit spread;

CFA® 2025 Level II Curriculum, Volume 4, Module 29.