NO.PZ2020033003000011
问题如下：
Which of the following is not the assumption of the Merton model？
选项：
A.the risk-free rate changes linearly with the value of the firm.
B.The debt default could happen only on the date of the bond’s maturity. C.
It assumes the firm has a simple capital structure: only one debt (zero- coupon bond) and only common shares.
D.Adjustment for liquidity is not required.
解释：
A is correct.
考点：Merton model的假设。
解析：Merton model对无风险利率的假设是保持不变。
C中后半段在哪？only common shares
