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_____________ is most simply defined as the probability that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms.

_____________ is most simply defined as the probability that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms.

a. Credit risk b Business risk c. Operational risk d. Market risk

_____________ defined as the event when a firm misses a payment on coupon and/or the reimbursement of principal at debt maturity. a. Concentrations of credit

b. Credit risk c. Bankruptcy d. Default

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