我记得当时有个题，讲债券利率变动了，卖掉算资本利得，就是用的ｓｅｌｌｉｎｇ的钱，减去的P０，也就是ｏｒｉｇｉｎａｌｃｏｓｔ啊。。　

老师，我之前做题因为基本上都不会，所以就没有标记；看解析也没有做笔记。现在再去看百题也来不及，如果就只看密卷的知识点，通过可能性大吗？

Merchant Capital Partners, a regional investment bank, acts as a market maker for Vital Link Health Services and other small firms listed on an over-the-counter exchange. For those shares for whom Merchant acts as market maker, it trades for its own book as well as engaging in risk arbitrage trading. Merchant allows staff members to trade in shares once clients and the company have traded. Merchant recently obtained material nonpublic information regarding Vital’s planned reverse takeover of a publicly listed competitor. In order to be in compliance with the CFA Institute Code and Standards, which type of trading in Vital shares should Merchant least likely suspend? A Personal B Risk arbitrage C Passive proprietary 这个题不会

老师，不管是FRA还是IRS，long方都是认为未来利率回上升，short方都是认为未来利率会下降，对吗？

咋地，还有不交税的可能性？强词夺理了吧？

老师，这四类衍生品中只有forward是零和游戏吗

资金较少，先满足pac，指的是利息部分先满足吗？

可以讲一下CDS么？以及买方和卖方的区别

这个C是什么意思？指的是，不能说未来会获得abnormal return ，但可以在过去事实数据的基础上说有abnormal return吗？

视频47：17，为何延后确认费用，企业的净利润会逐渐上升？我理解以前不确认费用，之后逐渐确认费用，净利润应该逐年下降才对吧？