第二题这种二级知识点，在三级也会考吗

请问第四问的增加的 YTM 和题目中的yield 是一个东西吗， yield就是yield to maturity的缩写吗

老师好，请问：B.Security selection=-0.05%,这个数据哪里来的呀？

price-weighted 对于rebalancing有什么要求？

第四题，完全不理解First, I actively seek out the opinions of our team members and look for information from a range of sources to challenge my existing beliefs. Second, I seek contrary viewpoints from other investors and sell-side analysts, as well as set and enforce proper portfolio diversification rules. 不都是在找反方观点挑战自己，避免在自己过度自信吗，这还不够吗？

这个右偏其实峰值是在左边，是表明大部分情况下是损失小的情形，少部分情况下是获得巨大收益？

Vega notional represents the average profit and loss of the variance swap for a 1% change in volatility from the strike.怎么理解

这里gammer trading能解释⬇️什么意思吗，二阶导是一阶导delta的变化率，一阶导都是0了还怎么变化？为什么这儿是二阶导产生收益

The portfolio should be tracked on the basis of large cap versus small cap, as well as domestic, developed, and emerging markets. 这些不是fundemental 的指标吗

第一题，Arya 表面看上去target active risk很高，大家都以为是主动管理，但实际上Standard deviation of return较低，这不符合closet indexing的定义吗？至于Maximum sector deviation和Maximum risk contribution to a single security这和closet indexing有啥关系？