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I was going through R8.P1.T1.Stulz.In the question set that came along with it,I happened to notice Bankruptcy Cost Questions followed by other conceptual questions which were not taught in the corresponding Study notes. It felt like a totally new concept to me! Is Normal Distribution concept...

LTCM was long U.S. interest rate swaps and short U.S. government bonds at a time when these spreads were at historically high levels. Over the life of the trade, this position will make money as long as the average spread between the London Interbank Offered Rate (LIBOR) at which swaps are reset...