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CFA问答
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請問reading 38 CFA practice problems中 Compare the efficiency of the ETF and total return swap TAA implementation alternatives from the perspectives of capital commitment, liquidity, and tracking error. Tracking error 為什麼 ETFs > Swap? 因為進入一個swap,除了收取index returns之外,同時間也需要支付對手方,例如fixed income payment之類的,這樣不會造成fund 的tracking error 增加?
想請問 reading 38 CFA practice problems 這題關於leverage 的算法, Leverage = (notional amount - margin)/margin 如果題目要求是3 times of leverage,那borrowed amount 不是應該 5mn x 75% 嗎? 因為 debt/equity = 3; 那Debt/Asset = 75%.
精品问答
- Q3:解析里面Team Purple’s conclusion (the externalities associated with human capital is the most important determinant in predicting the occurence of convergence) implies that the production function is a straight line, and is compatible with non-convergence.这段话中 externalities associated with human capital具体是什么?怎么得到the production function is a straight line这个结论呢?
- Effective duration和Effective convexiy的公式为什么不用modified duration和convexity的原本公式,而是和他们的近似的久期和突性的公式一致?
- Risk Budget and risk parity 第二道思考题,里面的Variance是不是完全是个冗余信息,给来误导的呀?
- liability relatibe asset allocation这三种方式的区别是什么呀 怎么区分
- 为什么半年付息 算ytm是乘以2 而年化的麦考利久期是除以2
- 为什么长期垄断竞争中 D和ATC相切
- Growth due to capital deepening 是αΔK/K还是ΔK/K
- m上升 EAR为什么上升 以及为什么又不变












