FRM 考题，求助

A portfolio manager owns $18 million worth of AA-rated bonds and $10 million worth of BB-
rated bonds. The one-year default probabilities of these bonds are 2 percent and 6 percent
respectively and are independent of each other.

The estimated recovery rates for these bonds are 65 percent and 35 percent respectively.
Based on these assumptions, the one-year expected credit loss from this portfo is CLOSEST
to:

A. 0.42.
B. 0.44.
C. 0.52.
D. 0.96.


请问，default probility, recovery rates 指什么，谢谢