Reading 42 课后题11题B选项什么意思B is incorrect because the absolute priority rule, under which senior creditors are paid in full before subordinated creditors, has not always been upheld in bankruptcy reorganizations. There is no assurance that if a corporate bond has collateral, the rights of the bondholders will be respected. It is this uncertainty that creates the dominant influence of credit ratings over collateral in credit spreads.

25 The benefit to the issuer of a deferred coupon bond is most likely related to: A tax management. B cash flow management C original issue discount price. 为什么不选A，课件上说有税收优惠

老师，关于enhanced index 和active mgt的判断，有几个问题：1. 固收百题CASE 1Q1里写到duration slightly 和benchmark不同，该题答案判定为act mgt,但冲刺笔记这里写到primary factor只要closely match，我理解是可以略微有些不同的，为什么百题里这题就判定是act mgt了呢？ 2. 具体有哪些primary factor是要close match， 有哪些primary factor是要100%match才能算是enhanced index? 3. 冲刺笔记框起来部分写的primary factor上下不一样，具体哪些算是primary factor?

老师，麻烦问一下，这题的C哪里错了，是desired么？systematic risk 没法避免，其实是undesired？

reading21课后题第9题为何A和B不选？

reading21课后题第9题

老师，请问一下固收是不是也算是二级比较难的科目啊，我感觉这个课光是听就要听好久，课后题每题都做再对答案也要好久，复习速度都提不上来，您有什么好的建议吗？

错题 请详解 多谢

老师好，这个题目用CAPM算出来UG的return是16.48，高于题目给出的expected return，也就是说市场现在的预期回报低于应用CAPM计算出来的要求预期，那不应该是undervalue了吗？

请问老师，FRA里的0~1这个合约期间有什么用呢，为什么要设个合约期间？