If a securities market is efficient, it is most likely that: A Security prices would react only to the “unexpected” elements of information. B Investors would prefer active investment strategies to passive investment strategies. C The time frame for price adjustment allows many traders to earn profits with little risk. 不懂，

老师，从哪看出求的是marginal，这道题解析没看懂

老师网课上说，operating lease B/S也按BASE法则计资产吗？怎么这道题又说不计资产？

老师网课上说，operating lease B/S也按BASE法则计资产吗？怎么这道题又说不计资产？

The returns of hedge fund indices are most likely: A Biased upward. B Biased downward. C Similar across different index providers. 这个题听不见，麻烦讲下

ROE=ROA*FinancialLeverage这公式有问题吧？ ROA = [NetIncome interest（1-TaxRate）] / average total assets 这怎么直接把NetIncome和息前税后利润等价起来？

为什么不是用BASE法则算出Ending数：43121 3449.7-10000=36570.7 然后再36570.7*8%=2925.7 ？ 为什么这样不对呢

The values of a price return index and a total return index consisting of identical equal-weighted dividend-paying equities will be equal: A Only at inception. B At inception and on rebalancing dates. C At inception and on reconstitution dates.

One month after inception, the price return version and total return version of a single index (consisting of identical securities and weights) will be equal if: A market prices have not changed. B capital gains are offset by capital losses. C the securities do not pay dividends or interest. 讲解下这个题，A为什么不对？且选C的原因

hich of the following is an example of a style index? A An index based on Geography. B An index based on Market capitalization. C An index based on Economic sector. A 为什么不选？