问题如下图：
选项：
A. 
B. 
C. 
解释：
老师，您好！这道题我确实知道了短期违约风险上升，但是为何credit curve是向下呢？请问基础班对应的知识点在哪里？谢谢！
NO.PZ201701230200000602 问题如下 2. Accorng to Watt’s statement, the shape of UNAB’s cret curve is most likely: A.flat. B.upwarsloping. C.wnwarsloping. C is correct.A wnwarsloping cret curve implies a greater probability of fault in the earlier years thin the later years. wnwarsloping curves are less common anoften are the result of severe near-term stress in the financimarkets.A is incorrebecause a flcret curve implies a constant hazarrate (relevant probability of fault). B is incorrebecause upwarsloping cret curve implies a greater probability of fault in later years. 如果是一个正常的情况，曲线应该是上升的，就是时间越远不确定的因素越大，流动性越小，所以是upwarsloping，人们需要更强多的补偿。但这里是near-term crisis，所以就是近期发生风险的概率打，然后人们需要的补偿多，所以就是近期的补偿会高于远期，然后就是wnwarsloing。
NO.PZ201701230200000602 最后一句话是表示什么意思？
老师，A如果改成 flatter，是不是就对了呢？我是这么想的，我认为，一般情况下cret curve是向上倾斜的（即长期的cret sprea于短期的cret sprea，既然短期的经济不好违约概率提升，相当于短期的cret sprea升，在图上表现为短端向上，曲线变更flat了。但是不能知道是不是变成了wnwar-sloping。这是我想的。但是答案很明显是理解fl为“全线是水平”对吗？应该怎么理解？我的误区在哪里？
