假设一个人因为过去的投资损失而反对某项决策，到底算representative还是availability bias？感觉都解释得通。representative根据past experience，availability是因为过去的投资损失easily comes to mind

标蓝色这句怎么理解？ESOP是可以remain control的嘛？

老师，在百题里看到了这句话，请问该怎么理解？Key rate durations are particularly useful for determining the relative attractiveness of various portfolio strategies, such as bullet strategies versus barbell strategies.

这个1031法案，什么意思？卖旧房子，规定时间内买新房，卖房子的税不交。什么的税基变？是变成旧房子的卖价？原价？

这里和25delta有关吗？

题目里说b是callablebond,为什么其OAS比z-spread小？按道理来说，callablebond比普通bond应该更便宜，折现率应该更高，OAS应该更大？

Eighteen months later, the compliance officer resigns. Rather than hire an external replacement, management designates one of Twain's senior portfolio managers as the new compliance officer. The compliance officer reviews both firm and employee transactions and reports to the CEO rather than to the board of directors. 老师，百题case里这段话，答案认为违反了AMC，理由是合规官独立性受影响。具体到材料看，是不是“the compliance officer reviews both firm and employee transanctions”这里错了？因为report方面没有错；另外，根据AMC规则，designate an existing employee to serve as the compliance officer也是可以的。所以除了review both firm and employee transactions，其他没有错误的地方了吧？

老师，我的理解是100000*0.65/0.55，麻烦解答一下我，谢谢

老师，R13中的repo carry trade 是怎么操作的，可以介绍下么？基础班没讲清楚，我画的这个图感觉不太对

Q31， 请问什么时候会选“narrow discretionary band for currency exposures.”？ 我在这个和active currency management之间老选错