老师您好！请问，这里用 ATC=MC 算出 Q=8 后，如果代入 P=93-1.5Q，算出 P=81 ，这个价格表示什么意思呢？

Bill Fence, CFA, supervises a group of research analysts, none of whom have earned the CFA designation or are CFA candidates. On several occasions he has attempted to get his firm to adopt a compliance system to ensure that applicable laws and regulations are followed. However, the firm's principals have never adopted his recommendations. Fence should most appropriately: A resign from the firm, because no other alternative will keep him in compliance with the Code and Standards. B decline in writing to accept supervisory responsibility until reasonable compliance procedures are adopted. C take no further action, because by encouraging his firm to adopt a compliance system he has fulfilled his obligations under the Code and Standards. B选项中的decline in 怎么理解？是减少的意思吗？ B选项整个句子的含义让我蒙了

老师好，如果题目说是selling USD 10million? 头寸是long吗？

根据不同费用提供不同的服务不是符合CFA要求的吗？前面分配IPO哪里看出不是fair了呢？

老师，这两道题如何计算？

您好，我想问一下关于liquidity risk的问题，我不记得是哪个reading里的了。所以liquidity risk可以显示在quoted price和实际交易价格差距大，并且demand少？还是什么coupon rate高？什么的不记得了。能不能帮我总结一下这个，谢谢！

cpr在第几个月没听懂，357个月是360个月过去3个月，在第四个月，这没听懂，请解答，谢谢

里面用记号笔标记的部分对应的分母变大的公式是什么？？？？？

里面用记号笔标记的部分对应的分母变大的公式是什么？？？？？

您好！想问一下fund manager对cash flow没有control的时候是不是应该用time weighted rate of return？谢谢！