为什么算pv0的时候，所使用的折现率是12% 而不是 19%？

请问这里算出的NOI是当前年度的，不是未来第一年的吧？算V0不是需要NOI1吗？

这个T公司是收购方，收购之后，收购方的股价会下跌，被收购方会上涨，这是在equity里面讲到的。不是这样吗？

L这个人说的流程中，OAS要加2遍吗？为什么？

在调整最初的利率二叉树时，OAS一定是加上的吗？不会是减少的吗？

请问A收购B的话，flip-over是怎样？B有权利以打折价买A的股票？

Q39, 最后求return的时候为什么这样算？

为什么股票回购用自有资金会导致capital下降？

请问老师，structure model 是否能解释什么时候违约？ 像reduced-form model一样

Example 1 (Notification of Known Violations): Michael Allen works for a brokerage firm and is responsible for an underwriting of securities. A company official gives Allen information indicating that the financial statements Allen filed with the regulator overstate the issuer’s earnings. Allen seeks the advice of the brokerage firm’s general counsel, who states that it would be difficult for the regulator to prove that Allen has been involved in any wrongdoing. Comment: Although it is recommended that members and candidates seek the advice of legal counsel, the reliance on such advice does not absolve a member or candidate from the requirement to comply with the law or regulation. Allen should report this situation to his supervisor, seek an independent legal opinion, and determine whether the regulator should be notified of the error. 没明白这个案例到底谁 错在哪里？