NO.PZ2020033003000108
问题如下：
Tony Han, a junior analyst, is considering recommendations of the structure products to his clients. How many of his following observation(s) is(are) correct?
I. Senior tranches have large attachment points and hence a low probability of credit losses.
II. Equity tranches represent the first loss piece of the capital structure.
III. Synthetic CDOs have standardized tranche widths similar to index tranches.
选项：
A.0.
B.1.
C.2.
D.3.
解释：
C is correct.
考点：Structured Credit Risk
解析：
Statement I and II correct.
Statement III is incorrect. Index tranches, not synthetic CDOs, have standardized tranche widths.
这个概念的意义是什么，为什么是在CDS index这个概念里提到呀？
既然是分层，肯定得亏到这个层级得钱，才会赔付呀，设置一个attchment point的意义又是什么呢？
