![Definitions of probability of default vs. cumulative or marginal probability of default | Forum | Bionic Turtle Definitions of probability of default vs. cumulative or marginal probability of default | Forum | Bionic Turtle](http://learn.bionicturtle.com/images/2019/forum/081319-pd-definitions.png)
Definitions of probability of default vs. cumulative or marginal probability of default | Forum | Bionic Turtle
![Estimating probabilities of default of different firms and the statistical tests | Journal of Global Entrepreneurship Research Estimating probabilities of default of different firms and the statistical tests | Journal of Global Entrepreneurship Research](https://media.springernature.com/m685/springer-static/image/art%3A10.1186%2Fs40497-019-0152-8/MediaObjects/40497_2019_152_Fig1_HTML.png)
Estimating probabilities of default of different firms and the statistical tests | Journal of Global Entrepreneurship Research
![SOLVED: Suppose an FI manager wants to find the probability of default on a two-year loan. For the one-year loan, 1 - p1 = 0.03 is the marginal and total or cumulative SOLVED: Suppose an FI manager wants to find the probability of default on a two-year loan. For the one-year loan, 1 - p1 = 0.03 is the marginal and total or cumulative](https://cdn.numerade.com/ask_previews/92d53576-1f8a-47f8-a0c8-6ccb9f674fa4_large.jpg)
SOLVED: Suppose an FI manager wants to find the probability of default on a two-year loan. For the one-year loan, 1 - p1 = 0.03 is the marginal and total or cumulative
![Credit Risk Actuarial Science One on One — Part 11: Probabilities of Default and Term Structures of Default Rates | by Roi Polanitzer | Medium Credit Risk Actuarial Science One on One — Part 11: Probabilities of Default and Term Structures of Default Rates | by Roi Polanitzer | Medium](https://miro.medium.com/v2/resize:fit:889/1*6rpk37mhxnfUHqOjIaK4sQ.png)