RAP是什么 呢

老师，你看我这样理解这个题目对不对？ 他要对冲的风险是他担心套利所得的收入降低，由于他是支出11.5%-LIBOR,收入selling the notes 的所得，所以他其实担心的是LIBOR降低，如果要对冲LIBOR降低的风险，不应该是pay fixed,receiving floating吗? 我不太明白倒数第二句话要表达什么意思？

不太明白sell shares与sellfutures的区别，以及为什么要sell futures

我不太明白415题要考哪个知识点，这里的cash指什么 对冲不是更注重期权价格和标的资产价格变化的关系吗

这道题我不明白为什么是sell futures而不是buy futures？划线部分说明这个manager是持有资产的，对冲的话，是不是要持有期货？

老师，请问这道题的IR指的是什么？为什么要先算TEV？TEV又是什么？

这张是z分布表的全部吗？

请教老师 1 What is the difference between insolvency, bankruptcy and liquidation?网上看了些解释，不是太明白。主要是 insolvency, bankruptcy这个两个分辨不出来。 2 市场风险里面提到股票价格为什么用equity price而不用stock呢？金融领域都这么表达吗？

做题的时候需要用到比如z分布表，t分布表，这个习题集上面没有是吧？

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.