问题如下：
Tim and Wang are two junior credit analysts in a wealth management firm. They are estimating the probability of default of a set of bonds. Tim knows that 2 methods, structural model and reduced-form model could be used to estimate the probability of default.
For the reduced the model, Tim made the following statements:
Tim’s statement 1: Reduced-form model is based on the premise that a firm defaults on its debt if the value of its assets falls below its liabilities and that the probability of that event has the characteristics of an option.
Tim’s statement 2: For the reduced-form model, inputs are observable variables, including historical data. Thus, a reduced-form credit model involves regression analysis using information generally available in the financial markets.
According to the information above, which statement is correct?
选项：
A. Tim’s statement 1 is
correct.
B. Tim’s statement 2 is
correct.
C. both of the statements
are correct.
解释：
B is correct.
考点：考察对Structural model/Reduced-form model的理解
解析：<第一个Statement陈述的是Structural model的特征。
解析可以全一点么，暂时只看到一句话🧐
同学你好，基础班讲义上有呢，这其实就是考你对两个模型的理解。