老师，原版书191页，这里的threshold dividend发放为什么会影响conversion price呢？conversion price=issue price/conversion ratio，那发放股利会影响哪个要素呢？股价变动会影响债券吗？

Only the institutional trades comply with CFA Institute Standards. All the trades were processed on a net basis. Because the firm disclosed that institutional orders may be executed on a net basis, the institutional trades did not result in a violation. The firm disclosed to clients that in riskless principal trades, retail clients will receive the same execution price without mark-up. Executing the retail orders on a net basis with a $.01 mark-up resulted in a violation of Standards I(C) and III(B) relating to misrepresentation and fair dealing. 老师，这道题的答案解释没有看明，请您指导。

请问，P(AB) 计算出来不应该是35%么？，为啥选项没有，就可以选30%？若选项中出现其他选项比如31%，29% 是不是也可以选？谢谢

Valuation和pricing什么区别？

为什么计算先付年金时，PV=0，为什么不是200？

可以理解成弹性越大，所以越平坦吗

老师 第四题判断结论2错误是不是看第99页的AR和RMSE那一栏做比较呢？因为AR（2）的RMSE比较小，所以更准确，所以结论二错了？

老师 右边括号里的是T.S， 那左边括号里的是什么呢？

现实社会中，利率上升，储蓄S应该上升啊，为什么是下降呢

计算器怎么算出来结果是46575.34？