Which of the Following Is True

Multiple Choice

Which of the following is true

A) Conditional default probabilities are at least as high as unconditional default probabilities
B) Conditional default probabilities are at least as low as unconditional default probabilities
C) Conditional default probabilities are sometimes lower and sometimes higher than unconditional default probabilities.
D) There is no difference between conditional and unconditional default probabilities because a company can only default once.