At current moment, an investment has an outlay of 120 and after-tax cash flows of 50 annually for four years, however, a project enhancement increases the outlay by 20 and the annual after-tax cash flows by 10. As a result, what are the effects on the vertical and horizontal intercept? A The vertical intercept of the NPV profile of the enhanced project shifts up and the horizontal intercept shifts left. B The vertical intercept of the NPV profile of the enhanced project shifts up and the horizontal intercept shifts right. C The vertical intercept of the NPV profile of the enhanced project shifts down and the horizontal intercept shifts left 这个题干中说税后现金流量是50英镑，这句是什么意思呀，不明白呀

请老师给我讲一下15，16题，16题他在6个月前卖空了欧元，但是三个月后收到一笔欧元，所以答案中欧元的买价是假设他在这个时间点再买了一笔欧元的成本么？但是他已经有一笔了啊，不用再买了，这点没想通。

An investment of $20,000 will create a perpetual after-tax cash flow of $2,000. The required rate of return is 8 percent. What is the investment's profitability index? A 1.08. B 1.16. C 1.25. 不明白这个题 怎么求出来PV of future cash flow

你好，total capital由什么组成

Reading 3 第一个问题，According to the CFA Institute Standards of Professional Conduct, Locke owes his primary duty of loyalty in managing the Fund to: 对于Employee's pension fund，trustee不就是受益人beeficiaries吗？ 有疑问

37题和38题解释一下问题和题目

请问37题除了肉眼判断，有没有什么计算依据？

老师，Reading 9 Case 4 第20题为什么Framing会导致1/n的分散化呀？

Reading45课后题 21题为什么选B啊？里面没有提到significant level啊 对VaR的描述不准确

为什么债券的FV等于面值1000