原版书课后题reading10第34题，这题我不太明白，不是因为汇率计算的乘除，而是forward不是应该在到期再结算么？为什么新开一个forward就要立刻收入欧元呢？

老师，internally managed 100%foreign currency hedged strategy 是什么意思？

老师，base currency 不是外币么？短期本国利率上涨，本币升值，那base currency不是贬值么?外汇不应该贬值么？

L3V4, EX18, P330. There is an annual tax-free gift amount of $20,000. In Q2, when calculating the relative value of a gift to a bequest, why hasn't the $20,000 be deducted from the tax amount?

L3V4 EX12 P314. Why is the max profit for zero-cost collar be $150,000, not 80*15,000=$120,000?

L3V4 p305, what's the criteria for " the most tax efficient"? Paying the least tax or having the greatest tax credit?

老师好，ethics Code I(C) ，视频位置18:55，说剽窃下的要不要鸣谢，啥叫鸣谢？ 是说要注明出处的意思吗？

关于tax-deferred account， 无论是long-term bond/equity 还是short-term bond/ equity都无所谓嘛？都会根据total income 算税收吗？连income 和capital gain的区别也不分吗？

IPS中投资期限为什么会到退休后，退休后不是就支取养老金了吗

Q14, nephew的计算，分子分母的33%、39%如何理解？