老师，第9题，跨境时时支付，比如以区块链技术为基础的加密货币全球（汇款）支付，区块链技术在应用中一个缺点不就是存在滞后么？请您解答，谢谢！

选项D使得问题更加复杂了，而题干是mapping后使得问题简化，所以选项D不对。

50分51,秒的位置，为什么ρ=-1, 只有1st to default会违约？

还不太懂为什么足够多的granular时，credit loss的波动率为0，credit var 为0？

老师，我还是不懂为什么credit Var 随违约率上升而上升？

不理解为何是the basis-point volatility of the short rate ？ A risk manager is constructing a term structure model and intends to use the Cox-Ingersoll-Roll Model. Which of the following describes this model? A The model presumes that the volatility of the short rate will increase at a predetermined rate. B The model presumes that the volatility of the short rate will decline exponentially to a constant level. C The model presumes that the basis-point volatility of the short rate will be proportional to the rate. D The model presumes that the basis-point volatility of the short rate will be proportional to the square root of the rate.

B为什么不对，久期不能理解为平均到期时间吗？ n fixed income portfolio mapping, when the risk factors have been selected, which of the following mapping approaches requires that one risk factor be chosen that corresponds to average portfolio maturity? A Principal mapping B Duration mapping C Convexity mapping D Cash mapping

市场风险中讲到的金融数据应该选择frechet 分部，厚尾才会高估风险，操作风险不是也会有很大损失吗，为什么用薄尾的weibull分部呢？

是先分配Equity再分配trust吗?如果excess CF只有14,000,000，没有达到oc trigger，那是全部14,000,000都分配给equity吗

投资者不喜欢波动率，为什么在市场上波动率上升的情况下，要支付固定波流动率收到浮动波动率呢？这样的互换组合最终波动率的收益大于零，不符合投资者的偏好呀？