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　　Tip~Top Industries has a commitment with SuperSize Bank for $10 million. The terms of the loan are fixed and cannot be changedover its life. Tip-Top experiences an unexpected increase in
　　its credit quality and the credit rating agencies subsequently raise
　　its credit rating. Explain the most likely effect on expected loss and actual loss.
　　答案解析：C
　　A credit upgrade will decrease the likelihood of default (EDF)
　　reducing expected loss. Note that expected loss is an estimate of average future loss. Actual loss is by definition equal to
　　zero until a credit event occurs. (See Book 2, Topic 52)
        FRM考試在線高清視頻指導(dǎo)