请问accounting changes是列示在notes部分的吗？如果是的话，c选项是不是可以理解为它不能出现在net income前面？

美国存托凭证在美国是公开上市交易的，而全球存托凭证在美国是非公开交易的？

06.单选题 收藏 标记 纠错 Which of the following is least likely a component of yield spread? A Taxation B Expected inflation rate C Credit risk 查看解析 上一题 下一题 正确答案B 您的答案B本题平均正确率：41% Yield spread难度：一般 推荐：      答案解析 B is correct. Building blocks of the yield curve are spread (risk premium) and a benchmark (risk-free rate of return). Expected inflation rate and expected real rate are components of the risk-free rate of return (i.e., the benchmark). A is incorrect because taxation is part of the yield spread providing the investor with compensation for the tax impact of holding a specific bond. C is incorrect because credit risk is part of the yield spread providing the investor with compensation for the credit risks of holding a specific bond. 问：这道题想问的是 tax对于spread的影响究竟是什么样的？在美国 政府对不同的公司 征收的税率不一样么？怎么影响到spread的？

11.单选题 已收藏 标记 纠错 A 6% annual coupon corporate bond with two years remaining to maturity is trading at a price of 100.009. The two-year, 4% annual payment government benchmark bond is trading at a price of 100.750. The one-year and two-year government spot rates are 2.10% and 3.635%, respectively, stated as effective annual rates. Which of the following is the G-spread, the spread between the yields-to-maturity on the corporate bond and the government bond having the same maturity. A 220.5 bps B 239 bps C 241.8 bps 查看解析 上一题 提交试卷 正确答案B 您的答案A本题平均正确率：85% Yield spread难度：一般 推荐：      答案解析 The yield-to-maturity for the corporate bond is 5.9951%. PV=100.009, N=2, PMT=6, FV=100, r=5.9951 The yield-to-maturity for the government benchmark bond is 3.605%. PV=100.750, N=2, PMT=4, FV=100, r=3.605 The G-spread is 232.7 bps: 0.05995 – 0.03605 = 0.0239. 问：G-spread来比较公司債和国债的YTM差了多少，一般都是比较期限相同的么？向这道题都是2年，还是期限不同也可以拿来比较（因为我已经换算成YTM了 而这道题只是刚巧两个都是2年）？

老师，第18题，题上不是说在第一季度发了股息吗？那到时候折现的时候不应该从第一季度折回到0时刻吗？为什么答案上给的是从第一年末折到0时刻呢？（4次方那）

10.单选题 已收藏 标记 纠错 A corporate bond is quoted at a spread of +245 basis points relative to an interpolated 10-year U.S. Treasury bond yield. This spread is a(n): A G-spread. B I-spread. C Z-spread. 查看解析 上一题 下一题 正确答案A 您的答案A本题平均正确率：85% Yield spread难度：一般 推荐：      答案解析 G-spreads are quoted relative to an actual or interpolated government bond yield. I-spreads are quoted relative to swap rates. Z-spreads are calculated based on the shape of the benchmark yield curve. 问：这道题哪里说是 spot rate还是YTM了？怎么区分是G 还是 Z spread？

首先A选项说的是参与优先股股东的权利，这个题目问的是优先股，也没说是参与还是非参与优先股呀？ 其次，选项C说的是公司破产清算时的额外分配，只是优先分配，而不是额外分配吧？ 另外，参与优先股有权在公司破产清算时获得额外分配吗？

04.单选题 收藏 标记 纠错 The following information is available for two bonds: Bond X is callable and has an option-adjusted spread (OAS) of 55bp. Similar bonds have a Z-spread of 68bp and a G-spread of 60bp. Bond Y is putable and has an OAS of 100bp. Similar bonds have a Z-spread of 78bp and a G-spread of 66bp. The embedded option cost for Bond: A X is 13bp. B X is 5bp. C Y is 34bp. 查看解析 上一题 下一题 正确答案A 您的答案C本题平均正确率：33% Yield spread难度：一般 推荐：      答案解析 Option cost (Bond X) = Z-spread – OAS = 68bp – 55bp = 13bp Option cost (Bond Y) = Z-spread – OAS = 78bp – 100bp = - 22bp . 问：这里为什么用Z-spread 不用G的。图中Z和G没有区别，怎么解释？

老师能仔细讲讲available-for-sale security 和 hold for trading purpose的区别吗？

请问原版书课后两道题。为什么同样是求小于等于某个数的概率，一个要算上0次成功的概率，一个不算0次？