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CFA一级
包含CFA一级传统在线课程、通关课程及试题相关提问答疑;
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老师能再解释下Value of putable bond=Value of pure bond + put option和Value of callable bond=Value of pure bond - call option吗?
查看试题 已回答03.单选题 收藏 标记 纠错 Which of the following situations is the least likely reason why the marginal cost of capital schedule for a company rises as additional funds are raised? A The company seeks to issue less senior debt because it violates the debt incurrence test of an existing debt covenant. B The cost of additional funds from various sources rises as higher levels of financing are achieved. C The company deviates from its target capital structure because of the economies of scale associated with flotation costs and market conditions. 查看解析 上一题 提交试卷 正确答案B 您的答案C本题平均正确率:36% WACC难度:困难 推荐: 答案解析 B is correct. 问: A,B,C选项可否简易的中文翻译一下 再配合个小例子说明一下,选项没有看懂
查看试题 已回答01.单选题 已收藏 标记 纠错 Which of the following statements is correct? A The appropriate tax rate to use in the adjustment of the before-tax cost of debt to determine the after-tax cost of debt is the average tax rate because interest is deductible against the company's entire taxable income. B For a given company, the after-tax cost of debt is generally less than both the cost of preferred equity and the cost of common equity. C For a given company, the investment opportunity schedule is upward slop-ing because as a company invests more in capital projects, the returns from investing increase. 查看解析 下一题 正确答案B 您的答案A本题平均正确率:48% WACC难度:困难 推荐: 答案解析 B is correct. Debt is generally less costly than preferred or common stock. The cost of debt is further reduced if interest expense is tax deductible. 问: 1.A口否翻译一下?2.B可否再解释一下,我觉得债券和股票成本没关系吧?
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- Effective duration和Effective convexiy的公式为什么不用modified duration和convexity的原本公式,而是和他们的近似的久期和突性的公式一致?
- 为什么半年付息 算ytm是乘以2 而年化的麦考利久期是除以2
- 为什么长期垄断竞争中 D和ATC相切
- m上升 EAR为什么上升 以及为什么又不变
- 为什么TC 的切点对应是AVC的最低点?
- 前面在讲Aggregate demand curve的时候说,价格上涨使消费下降,而这里又说价格下降消费变少,为什么存在矛盾?
- 为什么可以把TR TC同时体现在纵轴?
- 对于老师讲的这部分,1. 我理解FRA的Payoff始终等于利率期货的Payoff部分进行折现(除以1个大于1的数),也就是说,FRA的Payoff的变动幅度 应该 始终小于利率期货的变动幅度。2. 至于是涨多跌少,还是涨少跌多,其实MRR在分母上,可以根据1/x的曲线特点来理解,无非就是MRR上升时1/(1+MRR)的变动幅度 小于 MRR下降时1/(1+MRR)的变动幅度,所以如果MRR上升时,Payoff是上升的,那么就是涨少跌多,如果MRR上升时,Payoff是下降的,那就是涨多跌少。以上2点,我理解的对吗?






