NO.PZ2020033002000021
问题如下：
Which of the following statement about marginal default probability and cumulative default probability is correct？
选项：
A. The probability that a borrower will default over a given multi-year period is defined as cumulative default probability. The probability that a borrower will default in any given year is defined as marginal
default probability.
B. The probability that a borrower will default as a result of a specified credit event is defined as marginal default probability. The probability that a borrower will default refers to all possible credit events is defined as cumulative default probability.
C. The marginal default probability is the lowest probability that the borrower will default and the cumulative default probability is the highest probability that the borrower will default.
D. Statement A and Statement C are both correct.
解释：
A is correct.
考点：Binomial Trees of PD
解析：只有A选项符合定义。
请问C为什么错呢，谢谢老师
