具体哪个知识点呢，规模经济里面没有讲这个呀。

题目说的是per unit cost 每单位成本不应该是平均成本吗？平均成本不变，总成就增加，应该是规模不经济才对。

没说基金经理面对其他客户的总收益率是怎么样的 完整性有问题

paid in capital 算是dividend吗？ 应该是减吧

第一个观点，为什么说putable bond和pure是一样的

题干提到，从today开始，10 equal annual deposits。那意思就应该是从0时刻开始，有10次PMT，那最后求出来的FV应该是9时刻的值吧？最后再用9时刻的值计算的话，应该用N=11才对啊………解答里面说的第一个FV求出来的是10时刻的值，不是太能理解呢

税是怎么影响利差的呢？国债收益率不受税收的影响吗？

04.单选题 已收藏 标记 纠错 An internal evaluation of the trading behavior of three fund managers of a mutual fund company during the past year has revealed the following: Manager X: She was slower than peers when reacting to changes in information.? Manager Y: He rarely realized investment losses but realized most of the investment gains. Manager Z: She tended to overreact by disliking losses more than liking comparable gains. From the above, which of the three managers most likely displayed a behavioral bias called “disposition effect”? A Manager X. B Manager Y. C Manager Z. 查看解析 上一题 下一题 正确答案B 您的答案B本题平均正确率：71% Behavioral finance definition and classification难度：一般 推荐：      答案解析 Disposition effect relates to the behavioral bias in which investors tend toward avoiding realizing losses but, rather, seek to realize gains. Manager Y has displayed this bias because he rarely realized investment losses but realized most of the investment gains. 问：X是哪个behavioral bias来着？

07.单选题 已收藏 标记 纠错 Which of the following best describes the majority of the evidence regarding anomalies in stock returns? A Weak-form market efficiency holds but semi-strong form efficiency does not. B Neither weak-form nor semi-strong form market efficiency holds. C Reported anomalies are not violations of market efficiency but are the result of research methodologies. 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：77% Behavioral finance definition and classification难度：一般 推荐：      答案解析 The majority of evidence is that anomalies are not violations of market efficiency but are due to the research methodologies used. Portfolio management based on anomalies will likely be unprofitable after costs are considered. 问：解析没有听明白，可否再解释一下

05.单选题 收藏 标记 纠错 The value effect market-pricing anomaly most likely occurs when stocks that have below-average price-to-earnings and market-to-book ratios, as well as above-average dividend yields, consistently outperform: A large-cap stocks. B growth stocks. C stocks that have had negative earnings surprises. 问： 1. value effect market-pricing anomaly 这一串英文整个 是行为金融学中 市场异常的一种是吧？整个是一个术语？ 2.对于这个异常我一直没有太理解：正常情况下，成长股应该好于价值股，但是现在反过来了，所以视作一种异常。是不是这样理解？ 请逐次回答 谢谢