老师8题不懂，为什么选irr低的。 6题的两个statement不太懂什么意思。

Unsystematic risk (risk that can be diversified away) is not rewarded. Systematic risk is the risk for which investors are compensated. Systematic risk is that part of total risk that is correlated with the market and related to changes in macroeconomic variables (such as changes in interest rate volatility). Standard deviation of returns of the market portfolio is a measurement of systematic risk.

老师，第二题HF不可以吗？

贷款中的摊销怎么理解呢？完全摊销和部分摊销是指偿还期内本金部分的偿还不同吗

Which of the following statements is least likely correct in estimating the value of inactively traded securities of a closely held corporation? A A control premium values the equity from a minority shareholder perspective. B The cost approach assigns the original acquisition price to the company’s assets. C Shares should reflect a marketability discount to compensate for a lack of trading in a public market. 读不懂题

固收，基础课单老师讲义158页例题5，问经济好，可转债价格是下降、不变还是上升。 单老师解释，承接第4题，因为已转股，体现股的收益特征，所以债券价格不变，选B。 我认为，每个小题是独立的，本题问的是已发行的可转债，在经济好的情况下价格走势；因为经济好，公司信誉好，所以此时流通在市场上的可转债premium是很大的，因此可转债价格上升，选C。

请问这道题该怎么按计算器呢？

麻烦老师帮我看下 我的解答哪个地方错了呢？

老师在讲two stage的DDM时，第四年的g不是已经变成3%了吗，应该15%只可以算前三年？老师算了四年

老师，不太懂short selling什么意思。 评级影响可转债价格；时间短对call影响越小，call价值低，可转债价格低；波动率高call价格高所以可转债价格高。这样理解这道题？