Question: Q) What is the term that is defined by this statement: When a credit event occurs, the protection buyer needs to deliver defaulted bonds or

Q) What is the term that is defined by this statement: When a credit event occurs, the protection buyer needs to deliver defaulted bonds or loans to the protection seller to receive the notional value of the obligation.

a) Credit Default Swap

b) Physical Settlement

c) Cash Settlement

d) Recovery rate

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