最上面框里，大单写了high touch agency？是说跟broker交易？还是只是说人工？第二个图紧急，是broker risk trade？

老师您好，官网模拟题的第四题的１８题答案解析中，ｃｏｓｔ　ｂｅｎｅｆｉｔrange是怎么计算的？另外对于截图2中，如果是foreign currency有currency risk, risk高，rabalance range是不是应该款？但是如果考虑volatility,外国的volatility相对高，range应该窄？老师如果考试遇到关于foreign currency investment判断rabalance range应该怎么考虑？

请问这句话为什么是错误的？Easily tracked indexes in asset classes similar to that of an illiquid asset often do not represent the non-idiosyncratic risk of the illiquid asset very accurately.

为什么MVO portfolios are more sensitive to measurement errors in the expected return than to measurement errors in correlation and risk

老师您好，官方模拟题中，5年和10年的ｉｎｔｅｒｅｓｔ都上升，Ｂ为什么不对？

why this statement is not correct? Statement 1 Both deferred and immediate annuities provide the same flexibility concerning access to invested funds

或者说，asset location是在进行tax avoidance还是tax reduction呢？

请问老师transfer tax-inefficient assets from TA to TEA/TDA是属于tax avoidance还是tax reduction呢？

两个问题： 1、正确答案的含义是什么？ 2、新兴市场的权益为什么不属于global equiry？美国权益属于global equity吗？

老师，关于the wider the dispersion of the distribution, the expected cost of Type I or Type II error is smaller, 是因为expected loss是考虑了概率的原因是吗？如果单单从opportunity cost来说的话，则随着dispersion越宽，opportunity cost则越大，所以截图二选C？ 以上理解是否正确？