23.单选题 已收藏 标记 纠错 Suppose you own a stock at $102. You have a short forward contract to sell the stock at a price of $100 one year from now. Risk free rate is 4%. What is your overall value of the two positions? A -5.85 B 5.85 C 100 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：54% Forward pricing and valuation难度：一般 推荐：      答案解析 100/(1+4%)-102=-5.85 问：1.老师请问 两个头寸 然后计算价值的这种题我怎么没在基础课里听过？不知道在说哪个知识点，可以简单说明逻辑，然后能让我有一个 解题思路吗？2.不知道这个和 ASSET+DERIV=RISK FREE ASSET有没有关联？怕混 所以确认一下。 两个问题 希望能分别回答

如何区分礼物属于Gift from client 还是属于 additional composation？

19.单选题 已收藏 标记 纠错 Which of the following statements best describes changes in the value of a long forward position during its life? A As interest rates go down, the value of the position goes up. B As the price of the underlying goes up, the value of the position goes up. C As the time to maturity goes down, the value of the position goes up. 查看解析 上一题 下一题 正确答案B 您的答案A本题平均正确率：76% Forward pricing and valuation难度：一般 推荐：      答案解析 Given the formula for the value of a forward contract . It follows that the value of the contract goes up as the price of the underlying goes up. 问：变化因素不只一个吧，A为什么错啊？

She will need to contribute €3,760 as margin.这句话意思是她需要补足到3760吗？

01.单选题 已收藏 标记 纠错 HobbyHorse Syndicate has entered into a “plain-vanilla” interest rate swap on $100,000,000 notional principal. HobbyHorse receives a fixed rate of 8 percent on payments that occur every six months. Winnie Investments, a swap broker, negotiates with another firm, WhoaThere, to take the pay-fixed side of the swap. The floating rate payment is based on LIBOR (currently at 7 percent). Because of the volatile interest rate environment, HobbyHorse has created a reserve to cover any cash outlay required at settlement dates. At the time of the next payment (due in exactly six months), the reserve balance is $150,000. To fulfill its obligations under the swap, HobbyHorse will need approximately how much additional cash? A $350,000 B $0 C $375,000 查看解析 下一题 正确答案B 您的答案A本题平均正确率：51% Forward pricing and valuation难度：一般 推荐：      答案解析 问：利率互换这块会考计算吗？基础课老师没有讲 把这里跳过去了。

这个c不是房地产股票吗？

老师你好，这里差不多是说CFO=NI+NCC-WC Inv,按间接法计算CFO时分三步调整，第一步调整非现金项目，即加折旧和摊销，第二部是调整非经营项目，+gain/-loss,第三步调整B/S相关科目，这里NI+NCC-WC Inv其中NCC相当于加回折旧和摊销，-WC Inv相当于调整资产负债表相关科目，那+gain/-loss呢？为什么不需要调整？老师上课时说如果这里的NI给的就是经营的NI，则不需要调整这一步，关键是一般的NI并不是经营性的NI吧？不明白这里为什么直接这样默认NI就是经营净利润？

z test， f test分别怎么test？

05.单选题 收藏 标记 纠错 Which of the following is the price of a forward contract? A Is the amount paid at expiration. B Fluctuates over the term of the contract. C Is the amount paid at initiation. 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：68% Forward pricing and valuation难度：一般 推荐：      答案解析 The price of a forward contract is the amount paid at expiration. 问：老师我这边有点较真，题目说是" price of a forward contract"即合同的价格，并非forward price，所以该表达应该是和valuation一个意思吧？

老师你好，递延所得税资产和递延所得税负债是流动性资产和负债吗？