想问如果题目问对CDX的影响，这样才应该选C？

问题如下：

3. Should Watt conclude that UNAB experienced a credit event?

选项：

A.

Yes.

B.

No, because UNAB did not file for bankruptcy.

C.

No, because the failure to pay occurred on a subordinated unsecured bond.

解释：

A is correct.

UNAB experienced a credit event when it failed to make the scheduled coupon payment on the outstanding subordinated unsecured obligation. Failure to pay, a credit event, occurs when a borrower does not make a scheduled payment of principal or interest on outstanding obligations after a grace period, even without a formal bankruptcy filing.

B is incorrect because a credit event can occur without filing for bankruptcy.The three most common credit events are bankruptcy, failure to pay, and restructuring.

C is incorrect because a credit event (failure to pay) occurs when a borrower does not make a scheduled payment of principal or interest on any outstanding obligations after a grace period, even without a formal bankruptcy filing.