24题及其答案，课后题讲解老师说，计算第二阶段值，分子上要乘以衰减因子0.7，可是题目答案里，分子上没有乘衰减因子。为何呢？我试着乘以衰减因子，然后多折现一期，结果也不对。盼望指点！谢谢

老师你好，Reading 14， 16题，将AFS转成trading security，为什么只讲2008年到2009年的亏损1000块算进去？ 在进行结转的时候难道不应该把2008年放到OCI中的4000块Gain转到IS中么？最后的答案应该是C啊 。

请问老师 除了一个个现金流折现外 还有没有更快的方法算DPB？

reading 24 课后题11 为什么除以1.97*100，而不是除以1.97 课后题14 为什么计算change in price时用4.12也就是expected effective duration，而不是4.96也就是current modifyduration?

为什么在一期之后从平均概率来看我只能获得无风险收益率啊？这和风险中性有什么联系啊？

03.单选题 收藏 标记 纠错 Choose one of the following correctly describe the writer of a put position in the underlying asset? A Short position and short exposure of risk B Long position and long exposure of risk C Short position and long exposure of risk 上一题 下一题  正确答案C 您的答案A 本题平均正确率：52% Option难度：一般 推荐：      答案解析 Writer of an option sells out a right, so it is the short position. Also writer of a put option sells out a right to sell something in the future, so when the price of underlying asset goes done, then the writer must buy it at the strike price if the long put position exercise the option, so it is also the same as long exposure of risk. 问：请问“long exposure of risk”的含义是什么呢？如果用图表示的话是哪一块？

02.单选题 已收藏 标记 纠错 Choose one of the following is most similar to a short position in the underlying asset? A Writing a put. B Buying a call. C Buying a put. 查看解析 上一题 下一题 正确答案C 您的答案C本题平均正确率：57% Option难度：一般 推荐：      答案解析 Buying a put is most similar to a short position in the underlying asset because the put increase the value if the underlying asset value decreases. The writer of a put and the holder of call have a long exposure to the underlying asset because their positions increase in value if the underlying asset value increase. 问：对于标的资产是卖，所以是put；默认表示拥有一项权利，是long=>所以是 long put。 我这样理解对吗？

能再解释一下为什么1000x6只是调整了本金的倍数，并没有把汇率调整过来吗？跟不上老师的思路

2.单选题 已收藏 标记 纠错 Determine the upcoming payments on a swap with a notional principal of $5,000,000 in which the fixed-rate payer makes semiannual fixed payments of 10% and the counterparty makes floating-rate payments at Euribor. The Euribor rate at the last settlement period was 8%.The fixed-rate payments are made on the basis of 180 days in the settlement period and 365 days in a year. The floating-rate payments use a 180/360 day convention. A The net payment is $16,010 from the fixed-rate payer to the floating-rate payer. B The net payment is $46,500 from the fixed-rate payer to the floating-rate payer. C The net payment is $18,750 from the floating-rate payer to the fixed-rate payer. 查看解析 上一题 下一题 正确答案B 您的答案A本题平均正确率：55% Swap 难度：一般 推荐：      答案解析 5000000*(10%*180/365-8%*180/360) = 46,500. 问：固浮互换那张图 相关的定量计算 还会考吗？基础课里没提这块

老师讲到 NPV再投资收益率合理、IRR再投资收益率不合理。 我不太理解这两句话，可以仔细讲一下吗？