老师，为什么incentive fees不是等于（90-75-90*2%）*20%呢

02.单选题 已收藏 标记 纠错 Consider a U.S. investor who has a portfolio of Australian government bonds that are denominated in Australian dollars. Why would the investor wish to enter into a swap contract? As the Australian: A dollar increases in value, the interest payments from the Australian bonds translate into fewer U.S. dollars. B interest rate decreases, the value of the Australian bonds decreases. C dollar decreases in value, the interest payments from the Australian bonds translate into fewer U.S. Dollars. 查看解析 上一题 下一题 正确答案C 您的答案A本题平均正确率：54% Swap 难度：一般 推荐：      答案解析 As the Australian dollar decreases in value, the interest payments from the bond (and perhaps the bond’s face value if the bond is at maturity), translate into fewer U.S. dollars, which reduces the interest earned on the Australian bonds. 问：这题C的逻辑是在说什么？我持有的是澳币的资产，不是应该担心澳币下跌给我带来损失吗，所以签了这份协议。所以签完之后应该是 澳币下跌，我会有好处吧，但是C说的是收到的利息更少了，好像不对吧

Consider the pairwise correlations of monthly returns of the following asset classes: Based solely on the information in the above table, which equity asset is most sharply distinguished from US equities.

Consider the pairwise correlations of monthly returns of the following asset classes: Based solely on the information in the above table, which equity asset is most sharply distinguished from US equities.

为什么a 不对呢？没有听懂啊

这里的investor pay 100是什么意思

不懂，什么下降随着下降啊，说的不清不楚的！

11.单选题 已收藏 标记 纠错 Choose one of the following statements regarding settling a forward prior to expiration contract is most accurate? A A party who terminates a forward contract early must make cash payment. B Early termination through an offsetting transaction with the original counterparty eliminates default risk. C A party who terminates the contract early has no risk. 查看解析 上一题 下一题 正确答案B 您的答案C本题平均正确率：83% Forward难度：一般 推荐：      答案解析 Terminating a forward contract early with a different counterparty exposes a party to default risk. If the offsetting transaction is with the original counterparty, default risk is eliminated. No cash payment is required if an offsetting contract is used for early termination. 问：C为什么错？提前结束不就是为了消除风险吗

这道题意思是如果不考虑递延所得税负债和递延所得税资产，pretax income*(1-t)就是income tax expense了？pretax income*(1-t)不是NI，是个利润吗？income tax expense不是所得税费用吗？这俩怎么相等了？

现金流的现值不是FULL PRICE吗