B中vanilla请问是什么意思

在有关ERM项目的组成中，题目给出了the maximum value at risk under multiple stress test scenarios；；the firm's tier1 capital to asset ratio；；the optimal size of the ERM Committee。这几个都不是他的组成，分别应该怎么理解？

ERM的基础basis和一定要指派CRO有关吗，还有和这句the silo approach to risk management is the optimal risk management strategy有关？这句话逻辑感觉很奇怪

the use of credit derivatives 难道不是造成金融危机的原因吗，题目中说的是要改为misuse，这是否过于文字游戏

36题为什么我算出来的d1=0.0025……算了很多遍都是这个数字，是我算错了吗

ensure accuracy and completeness of reported earnings，and reviewing independent valuation methodologies and processes.这个职责是属于高管层、风管部门、财务部门还是前线部门的？感觉像风管部门的？

for any risk factors that are represented by categorical or discrete variables, the risk manager should seek to replace them with either interval, ratio, or continuous risk factor variables.这句话怎么理解

hedging can only mute the volatility of accural-based earnings, hedging can't increase the firm's cash flows and therefore can't influence agency risks这句话怎么纠错呢，怎么跟agency risk扯上关系了🤔

risk appetite是公司不破产能承担的最大风险，事实上，风险偏好需要集中于一个事情：one board，durable这句话为何错？感觉前半句是在描述risk tolerance？即能承担多少风险这个意思；risk appetite应该描述的是要承担具体哪类风险吧？这里概念不太清楚；；；还有感觉这个one board也不太对

the final step of the risk management process involves developing a risk mitigation strategy这句话哪里错了呢？最后一步是管理风险，管理风险里包含了避免、转移、留存？