为什么要卖出equity的保险呢？equity比mezz还容易违约，不会赔很多钱吗？

为什么要卖出equity的保险呢？equity比mezz还容易违约，不会赔很多钱吗？

I have below questions that I don't understand. It is hoped that you can help solve these questions Thanks. Assume a bank’s 10-day 99% confidence level var is 1 million. The HO is var model is accurate. 25 exceptions are observed out of 1000 samples. a. var model is accurate but risk type 1 error b. var model is accurate but risk type 2 error c. var model is bad but risk type 1 error d. var model is bad but risk type 2 error A portfolio alpha is 1.24% and the standard error of alpha is 0.1278%. the probability of observing such a large alpha is only 1%. Now calculate t-statistic, a. t = 9.7, accept b. t = 0.7, reject besides, for revision, historical var is n＋1 ? the 6th worst outcome of 100 sample? and expected shortfall is var eg 95% of 100 samples = worst 5 outcomes / 5 ?

请问老师，为什么Loan是floating rate却利率对它影响小，浮动利率请问不应该是随着浮动所以影响大吗？bond是固定利率却说利率对它影响大？（老师说bond本金没影响 但每期的interest有浮动影响） 这里没有理解，请老师指教，谢谢！！

老师，我对利率上升和下降引起Da和Dl的变化我还是不明白

老师，我对利率上升和下降引起Da和Dl的变化我还是不明白

第4题 为什么选A

第6题 一般说yield to maturity都是税后的吗？我一直以为是税前的..

17题 选项D中波浪线的说法对吗，为什么？A选项，客户用prime brokerage的话，不是借券商的钱买股票，然后买回来的股票抵押在券商那吗？为什么可以把钱取走，取走了也要先卖掉持仓把钱还给券商吧？

19题 special spread小 是说更接近 general repo rate吗？但是on the run不是流动性好 很受欢迎吗，不应该是special repo rate更低，special spread更大吗，然后刚刚发行的时候special spread最大吗？