estimate 是估计未来的意思吗？ 不可以说是估计过去发生的吗？感觉怪怪的。

12题表格里的这么多项怎么判断用那项不用哪项啊？

第12题，Px前系数是负的，交叉弹性代入时是正的？

这题答案c里的$500,000是题中的那个$500,000selling cost吗？

麻烦老师讲解下这两句话吧 关于外汇资产需不需要对冲 以及currency overlay 是什么意思 不是特别了解

Q. An investor writes a put option on FTSE 100 Index futures. Which of the following best describes the investor’s position with respect to the put contract and her exposure to the underlying index future, respectively? A.Long, short B. Short, long C.Short, short B is correct. The investor has written a put contract, which means she is short the option. She, therefore, must satisfy the obligation to purchase the asset if requested to do so by the put owner. The investor has a long exposure to the risk of the underlying index future because she benefits when its quoted price increases—that is, when the put declines in value (or suffers a loss when its quoted price decreases as the put increases in value). 请问这道题write a put option 是什么意思？是 short put 吗？如果是的话，那敞口应该是short吧？

EVA和MVA的区别在哪里?

请问第九题，回购前bvps是（850-250）/20=30，回购后（850-250-60）/18=30，我的疑问是，回购后equity不是应该不变的吗？回购股票不是把R/E的钱转到capital然后equity不变？

1、OAS是如何计算出来的 2、为什么是先加OAS再调整benchmark的delta spread?这个先后顺序是怎么考虑的？

再讲一下经济折旧的计算公式吧