您好，我想问一下该如何区分ethical和legal conduct呢？我理解一个是法律上一个是道德上，但是前两天看一道题说仅仅考虑suitability是legal conduct，但是其实这个也挺ethical的，但是答案说ethical要有fiduciary duty，所以我想问问具体判断的这个度在哪里？谢谢！

您好，我想问一下这里的strong compliance culture是什么意思，这个合规文化特别strong会让你更ethical还是更不ethical？谢谢

老师，请问书本226页第三十一题答案Scenario C: –0.02 + (–0.053) + (–0.794) = –0.867为什么不可以是Scenario C: 0.02 + (–0.053) -(–0.794) ？是不是绝对数值越大，sensitity越大？

老师，能详细解释一下roll yield 吗？ 不太理解这两张图。着急！！！谢谢！！！！！

老师，请问书本225页第二十四题答案 Due to covered interest arbi-trage, the relative attractiveness of bonds does not depend on the currency into which they are hedged for comparison. Hence, the ranking of bonds does not depend on the base currency of the portfolio.是什么意思？ . Inter- market trades should be assessed on the basis of returns hedged into a common currency. Doing so ensures that they are comparable. Neither local currency returns nor unhedged returns are comparable across markets because they involve different currency exposures/risks不太理解？ Over horizons most relevant for active bond management, the capital gains/losses arissing from yield movements generally dominate the income component of return (i.e., carry) and rolling down the curve怎么理解？

为什么不是B

固收第191页，书后习题，题干和问题如下。为什么选择A？答案说得不太有说服了。

您好，这两个记录G or L的地方不一样，所以说Derecognition和extinguishment是不一样的？这两个有什么区别啊？谢谢！

全概率公式无条件？？

这不是贝叶斯公式啊