Fixed Income- PV Expected Loss

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AFusername1234

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Hi All- I’m a little confused; there is not an LOS that states, “calculate loss given default/PV expected loss”, however CFAI text goes into detail about calculating. There are some holes in the equations that prevent me from thoroughly grasping (I.E. the N(-d1) components).
The end of chapter questions focus on this but do not require you to calculate the values; you’re simply subtracting the valuation amount from PV risky vs PV risk free. Has anyone noticed this as well?
Thanks!
 
Can you point to specifc pages or questions? Having trouble following exactly what you’re asking here.
 
Appreciate the response; apologies on the vagueness, this was written near the end of yesterday’s caffeine induced study session.
Referring specifically to page 267 in the CFAI text- example 4. Having a difficult time understanding/reconciling the value for N(-d1), N(-d2), N(-e1), and N(-e2). Similarly page 275 example 5 is the same concept but for reduced form models. This seems much more logical, which I do understand.
The LOS states to “understand the models and PV of expected loss” but the end of chapter questions are much more simple. Thanks again.
 
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