关于D

NO.PZ2016082405000069

Which of the following statements is most likely correct about recovery rates?

选项：

Recovery rates vary inversely with capital structure seniority.

Historical recovery rates are fairly constant across industries.

Recovery rates are highest during economic downturns.

Actual recovery rates may differ substantially from settled recovery rates.

解释：

D Settled recovery occurs fairly soon after the credit event (e.g., CDS auction or sale of defaulted bond), while actual recovery can occur years later based on the bankruptcy resolution. Recovery rates increase with capital structure seniority, are lowest during economic downturns, and vary significantly across industries.

Settled recovery occurs fairly soon after the credit event，while actual recovery can occur years later based on the bankruptcy resolution问题如下

1.Settled recovery rate是违约发生那一刻能够恢复的比例，对吗？

2.Actual recovery rate是违约发生后，直至最终补充都拿到手之后的比例，对吗？