169:B选项为什么两头亏呢？dealer用bid price买fund，ask price卖fund；而bid price要低于ask price，那不就是低买高卖么，怎么亏了呢？

锁定期可以支付给investor利息，但不能支付本金？

65:怎么区分direct和indirect投资？为什么本题中的REITs是indirect equity？我记得之前的表格课上讲的表格里mortgage REITs是public debt，privateREITs是private equity，listed REIT shares是public（indirect）equity。那我怎么区分他们呢？

升水和贴水是什么？这个公式在哪里学到，可否截图

Colleen O’Neil, CFA, manages a private investment fund with a balanced global investment mandate. Her clients insist that her personal investment portfolio replicate the investments within their portfolio to ensure them that she is willing to put her money at risk. By undertaking which of the following simultaneous investment actions for her own portfolio would O’Neil most likely be in violation of Standard VI(B)–Priority of Transactions?ASale of a listed US blue chip value stock.BParticipation in a popular frontier market IPO.CPurchase of a UK government bond in the primary market. C为啥不对

160:LBO是什么？和infrastructure assets区别是什么

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？