an interest rate cap will have more price fluctuation than a bond with no interest rate cap.这个选项翻译出来是说有cap的bond的波动更大吧？

请问c为什么不对？

ADR是啥，在美国发行，后来由银行在其他国家以美元发行的stock？

prepayment risk 包括 contraction risk 和 extension risk 都是由于利率的上升或下降引起的，锁定利率的mortage loan 为何不能最小化风险

如果价格缓慢变动，为什么是有额外信息？这里没听太懂。麻烦老师再解释一下吧

为什么价格上涨超过55元就止损代价高？那超过了55元因为成本高停止止损的话，那损失可能就不止是55-42这么多了吧？选C？

这样算出来的Disposal NBV不是负数么。 是-3M

老师，A选项中的interest rate risk是什么意思？能详细讲一下A选项吗？

03.单选题 已收藏 标记 纠错 Assuming no change in the credit risk of a bond, the presence of an embedded put option: A reduces the effective duration of the bond. B increases the effective duration of the bond. C does not change the effective duration of the bond. 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：64% 问：看图中画圈部分 如果是callabale bond，同样也是 因为有上限，所以价格变动的百分比受到限制，会相对更小，所以Effective duration也是相对会小是吧？所以结论是：含劝债券的E.D.会相对小 对吗？

01.单选题 已收藏 标记 纠错 A fixed income portfolio manager is evaluating investments in the mortgage market but is concerned about prepayment risk. The security that will most likely minimize prepayment risk is: A a mortgage passthrough security. B a portfolio of interest-only mortgage loans. C tranche B of a collateralized mortgage obligation. 查看解析 下一题 正确答案C 您的答案B本题平均正确率：52% Prepayment risk难度：困难 推荐：      答案解析 A collateralized mortgage obligation or CMO, is structured to distribute prepayment risk among different classes or tranches of bonds. Tranche A would be repaid first, followed by tranche B, then C, etc.. 问： 1.选项B:a portfolio of interest-only mortgage loan 是什么东西？结构是什么样子的？