Ricardian Equivalence 为什么说预知到未来税率↑ 消费↓ 储蓄 I ↑ ？

15页的案例，为什么用计算器算出来的是792.504呢，不管是期初还是期末模式算出来都是这个结果。不知道是不是计算机原因

协会出的考试题都是类似这种吗？也不明说INTEREST和Tax是不是包含在内，，，，

COMMON STOCK和APIC加起来是insurance common stock？

老师，图片中画蓝色问号两处都有债券，两个债券有什么不同？怎么区分？

老师，我在学习做题过程中有个疑问，就是在做题中，如何从题干中选择备择假设，这道题是将not significantly different from作为原假设吗？我对于如何选择Ha 有点困惑，盼老师解答，谢谢！

discretionary portfolio是什么？

课件里没有说要加common stock？？？

问：题没有看懂，outcome指什么呢？

Wes Smith, CFA, refers many of his clients to Bill Towers, CPA, for accounting services. In return, Towers performs routine services for Smith, such as his tax returns, for no charge. With respect to this relationship, Smith: A is in violation of both Standard V(B) and III(B). B is only in violation of Standard III(B), Fair Dealing, by not putting the client first. C must disclose to his clients that Towers provides services for Smith's personal benefit. = 这题出现了refer，所以基本可以确定就是referral fees的相关问题吗？ referral fees需要提前disclose应该是限定在refer条件下吧？也就是并没有为客户提供了某种服务，而是做了推荐？