老师你好，我想问一下A选项为什么不对？A选项产品也是同质的，与B选项有何区别？

这道题中利率下降了，融资更简单了，那么公司的盈利能力不也应该提高吗，这样也可以减少Valuation allowance吧

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

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？

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？

01.单选题 收藏 标记 纠错 A zero coupon bond, compared to a bond issued at par, will result in higher: A interest expense. B cash flows from operations (CFO). C cash flows from financing (CFF). 这道题解析说零息债券是没有interest expense,可是讲课的时候零息债券有interest expense的，是按 期初摊余成本*r算出来的，然后分析师认为CFO高估，CFF被低估，为什么跟这道题解析不一样？

请问老师，54.62的ask优于54.71，不是应该“make a new market"吗？