What does a transition matrix indicate about a bond's future credit risk?
What will be an ideal response?
A transition matrix tells us the probability that a firm in a given ratings category will switch to another ratings category over the course of a year.
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If a licensee violates FHA rules, they can take the licensee's real estate license.
a. true b. false
Which of the following statements does not reflect the changes that have taken place in Russia?
A) Russian shoppers spend billions each year on luxury goods, tourism, and foreign real estate. B) Affluent Russians can shop at boutiques that offer Versace, Burberry, Bulgari, and other exclusive brands. C) The Kremlin limits foreign investment in strategic industries such as oil. D) In March 2014, Putin angered the West by annexing Crimea, a region that had been considered part of Ukraine. E) Faced with a financial crisis and a test of his political will, Putin responded by blaming the protestors for Russia's problems.