老师在Jacob Daniel case中讲到，p0=D1/r-g是要基于公允定价p0=V0，可是题目这里并没有说ABC stock是fairly valued怎么就能相等过去呢？

这里没懂税收哪里好了，客户花钱买一个年金产品，还需要纳税，这算什么好处呢？如果是immdiate annuity不就没有tax defer的好处了？相当于我花钱买年金，马上提取，然后纳税，这哪里好了

Q1对应的题干中提到了mean reversion，这是什么？

老师，对于common-size分析，如果是I/S表的话，就是所有的items除以总的sales或revenue？如果是cash flow statement话，则要看情况处理，可以是相关的items除以其对应的分类total CFO / total CFI / total CFF，对吗？

本题中，第四问 B 选项的适合 discount rate 应该是那个三年期利率，对吗？

这题里的P(low risk|Growth)为什么等于74%？为什么是用73除以99，而不是73除以256？

Benchmark spread 和 yield spread 是一个东西吗 前者要求期巿匹配 后者没有要求期限要匹配?

这题为什么用t分布，而不是z分布？截图2中所说的“属于小样本，所以不能用z值来代替，要去查t值表”怎么理解？

老师能不能麻烦讲一下这道题？Gardner Knight, CFA, is a product development specialist at an investment bank. Knight is responsible for creating and marketing collateralized debt obligations (CDOs) consisting of residential mortgage bonds. In the marketing brochure for his most recent CDO, Knight provided a list of the mortgage bonds from which the CDO was created. The brochure also states “an independent third party, the collateral manager, has sole authority for the selection of all mortgage bonds used as collateral in the CDO.” However, Knight met with the collateral manager and contributed to determining the bonds included in the CDO. Knight is least likely to be in violation of which of the following Standards? A. Suitability B. Disclosure of Conflicts C. Communication with Clients and Prospective Clients

第一，这题是怎么看出来WC，Finv是2013年的？为什么百题总是出现这种问题呢？第二，如果这个题没给WC，Finv,用表格里的数字能算出来吗