这里为什么不能用 DD=(V-K)/ σv 方法计算呢？

老师，这里的buyer指的是trust 吗？

老师 请问，是因为标的资产持有方担心价值下降，所以买的是put？

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。

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

Ho-Lee模型中的第二项，sigma*dw，在每步时间为一个月时，为何可以按：年sigma＊根号（1/12）来计算？这里的dw如何理解？

请问，“The counterparty’s expected potential exposure (EPE) is 7%”是指从我的角度看交易对手，他带给我的风险平均敞口是7%？谢谢？为什么不是交易对手面临的风险平均敞口是7%呢？

这个声音实在太小了

d选项不理解。delta-normal方式计算var，为什么需要均值和标准差？ Which of the following is not a required step in determining VaR for a fixed-income portfolio? A Determine the changes in the values of the market factors. B Decompose and map the portfolio. C Regress the portfolio value changes against those of an identical hypothetical portfolio to determine the appropriate market factors. D Compute the mean and standard deviation of the changes in the portfolio value.