Which one of the following four formulas correctly identifies the expected loss for all credit instruments?
A . Expected Loss = Probability of Default x Loss Given Default x Exposure at Default
B . Expected Loss = Probability of Default x Loss Given Default + Exposure at Default
C . Expected Loss = Probability of Default x Loss Given Default – Exposure at Default
D . Expected Loss = Probability of Default x Loss Given Default / Exposure at Default
Answer: A
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