你好，这里是单老师在网课第95-236，债券第5节，时间是21.23左右。说到关于三个假设中第三个： COUPON以YTM，再投资，我想问下 我们债券，每个固定时间，得到COUPON，不是投资者拿走了吗?为什么是假设还在里面投资(类似复利?)，年金是每个阶段给固定收益，不是领走了吗，到期领本金，请指导，

If there is more underperformance for the portfolio, the shape of the portfolio’s return compared to the normal distribution is: A Leptokurtic B Platykurtic C Mesokurtic 这题什么原理呢？说这个组合表现不好，是怎么不好？是涨幅小还是波动大也没说，return区间也没说，怎么取夏普来看呢？

29. Which of the following statements regarding the calculation of the enterprise value multiple is most likely correct? A. Operating income may be used instead of EBITDA. B. EBITDA may not be used if company earnings are negative. C. Book value of debt may be used instead of market value of debt. A is correct. Operating income may be used in place of EBITDA when calculating the enterprise value multiple. EBITDA may be used when company earnings are negative because EBITDA is usually positive. The book value of debt cannot be used in place of market value of debt. 老师，问一下，这道课后题答案说：The book value of debt cannot be used in place of market value of debt. 也就是说MVd不能用BVd来代替，然而，纪老师和***老师讲课时，都说可以的，而且金程课件也写了可以用BVd来代替。到底是能不能被BVd来代替啊？

这里在算期间hpr时，分母为什么把cash flow的值也加上了？

这道题中，depreciation cost为什么是8，而不是6， 为什么A.D的改变量和depreciation cost不一样

Dimitry Kha, CFA, examines the following information: The 6-month forward rate 1 year from now is closest to: A 4.70%. B 4.75%. C 4.80%. 这个题是什么原理呢？错了好几遍了也没记住

Which of the following regulations will most likely contribute to market efficiency? Regulatory restrictions on: A Short selling. B Foreign traders. C Insiders trading with nonpublic information. 这题明显选a呀，答案错了吧？

老师，一般讲Standard error是不是就是standard error of sample mean，两者有区别吗

What is the reason that an investor may prefer a single hedge fund to a fund of funds? A He seeks due diligence expertise. B He seeks better redemption terms. C He seeks a less complex fee structure. 这题答案错了吧，说选c，应该选b才对，单一对冲基金的fof手续费更贵，怎么会有人选呢？b的话会求一个更好的赎回期限

老师，如果要计算的话，像D/E，A/E这些指标，用的是BV还是MV