Is this stuff out of the curriculum: Nth to default swap, a subordinated basket default swap, and a senior basket default swap
we have credit default swaps for sure, but not that specific. I am 100% confident on this. Anyway, if the evil forces of CFA put something like that in the exam, I guess they key will be correlation between whatever reference entities you have as underlyings (and their credit quality, of course)
I’m pretty certain that stuf isn’t in an LOS. So, it should be out of the curriculum.