I'll tell you what, I definitely won't be taking tomorrow off but I am not looking at anything on Saturday. It's a 4 hour exam on a Saturday afternoon and I want to go in there with the little bit of sanity I'll have left.
Hi @Kashkha,
By definition, Marginal Default Probability = Probability of survival in the first year followed by a default in the second year. Where the probability of default in the second year (only second year without any consideration of what happened in the prior year) = Unconditional...
I don't think there is a fixed pass score. There are a lot of theories floating out there. This discussion has taken place in another post for part 2 so you can check out the link I've provided below. In future, try using the search engine in the upper right corner of the "Forum" page to see...
Not even that, think about the wrong solutions on the exam. Some poor soul could have failed because he/she got the question with the wrong solution wrong...yikes, that would suck.
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