老师您好，看原版书中，遇到一些段落不知该如何理解，烦请老师讲一下其中的一些要领 1 But in complex portfolios of interest-rate sensitive assets, many different kinds of exposure can arise from differences in the maturities and reset dates of instruments and cash flows that are assetlike (i.e„ 'longs') and those that are liability-like (i.e., “shorts”). 2 In particular, “curve” risk can arise in portfolios in which long and short positions of different maturities are effectively hedged against a parallel shift in yields, but not against a change in the shape of the yield curve. 3 Default risk corresponds to the debtor's incapacity or refusal to meet his/her debt obligations, whether interest or principal payments on the loan contracted, by more than a reasonable relief period from the due date, which is usually 60 days in the banking industry.

题目中的1.5%，说是current volatility,没说是昨天的啊？为什么直接用它计算呢

请问547题，Theta为什么不对，不是离到期只有半小时了吗

老师： standard Error，在Regression 中为方差除以n-k-1,开根号。 在样本统计（模拟）为方差除以n,开根号。 是这个规律吗？还有其他情况吗？

老师，此题中volatility（波动）是标准差的意思，我记得有的题里是方差的意思，应该是什么？

为何不是0.4？1/2*8/10？先选中债券？再是industrial概率？

第424题，没有相应选项呢？

如何理解这两题？

请问如何理解highest expected rate和lowest expected rate?这个图怎么画

第417题，预计水牛价格下跌，应该是卖现货，买期货，针对cattle future position，应该是买入吧，应该是long