什么叫options on currencies?具体交易过程是怎样的？

老师这道题如果变成short position那结论还一样吗

原版书reading21的课后题的第12题，comment 1 和2错误在哪里？ Comment 1 Comment 2 Comment 3 Callable debt has a smaller option-adjusted spread than compara- ble non-callable debt. Benchmark corporate bond issues normally have wider spreads than older bonds of the same issuer. The announcement of a new corporate bond issue often leads to an increase in the credit spread on the existing bonds.

原版书reading21 课后题的第8题的difference 2 和3 错误在哪里？ Difference 1: Difference 2: Difference 3: Commodity producers and banks represent a higher proportion of EM indexes than of developed market indexes. Total or partial government ownership of EM issuers is common, which results in a higher average recovery rate for defaulted senior unsecured bonds for EM markets than for developed markets. Compared with developed markets, the credit quality of EM issuers tends to be more concentrated at the very high and very low por- tions of the credit spectrum.

原版书课后题reading 21 的第3题中的，observation 1 和2 错在哪里？

Situational influences in decision making will most likely be minimized if: why strong compliance programs are in place is wrong? 最不可信任的，就是人啊。难道不是么？

核心资本折现率用无风险收益可以理解，但为什么收入波动率大就要增加折现率呢，折现率越大现值不是越低吗，我理解的是收入越波动折现率是不是应该更低来要求准备更高现值呢？谢谢老师

老师这题是怎么看出来是问宣称遵守展示几年还是完整展示几年？

请区分forward points,forward premium 和 (F-S)/S，者三者是一个东西吗？

什么时候能用CF来算，这道题不就是多阶段么，为啥老是说可以用CF计算器来算？？