如果買方價格里出了個23·5，算是什么？算是MAKE THE NEWMKT嗎？
清算所和交易所的區(qū)別是？
老師 asset based valuation是什么？我不記得這個定義了
8 Which of the following is not a limitation of the cyclical/non- cyclical descriptive approach to classifying companies? A A cyclical company may have a growth component in it. B Business- cycle sensitivity is a discrete phenomenon rather than a continuous spectrum. C A global company can experience economic expansion in one part of the world while experiencing recession in another part. 為什么不選C呢，C不是周期性的限制??？答案選B，但是解釋是Business -cycle的敏感性是discret rather than countinous，這個描述都是錯的，這個和limitation 也沒關(guān)。C和B好像都應(yīng)該選。
Which industry classification system uses a three- tier classification system? A Russell Global Sectors. B Industry Classification Benchmark. C Global Industry Classification Standard A is correct. The Russell system uses three tiers, whereas the other two systems are based on four tiers or levels. 這道題問道了關(guān)于3-tier classification system，我沒有印象，請老師講一下？什么是3-tier calssficiation system，還有為什么B、C不對
security market index plays a critical role as proxies for asset classes in asset allocation model; are used as proxies for measuring systematic risk. 能否請老師解讀一下這兩句話的含義，以及proxies的意思。
為什么價值型股票業(yè)績由于成長型股票業(yè)績？does value stock always outperform growth stock？
Security market indexes are: A constructed and managed like a portfolio of securities. B simple interchangeable tools for measuring the returns of different asset classes. C valued on a regular basis using the actual market prices of the constituent securities. 原版書課后題，選擇A，不選擇B和C。 我理解的是B不對，錯在market index 主要是同一類資產(chǎn)的指數(shù)，所以B不對。 為什么C不對呢？
有沒有這個公式: D0 = EPS*(1-retention rate) ?？
回購:The ability to absorb increase in outstanding shares because of the exercise of employee stock option，如何理解？
Pierre- Louis Robert just purchased a call option on shares of the Michelin Group. A few days ago he wrote a put option on Michelin shares. The call and put options have the same exercise price, expiration date, and number of shares underlying. Considering both positions, Robert’s exposure to the risk of the stock of the Michelin Group is: A long. B short. C neutral. 我選擇的是C，因為首先投資人買的是看空期權(quán)，所以股價上漲，對于投資人是風(fēng)險。但是隨后投資人買了看漲期權(quán)，如果股價上漲，那么看漲期權(quán)的收益能夠覆蓋看空期權(quán)，如果股價下跌，看空期權(quán)的收益覆蓋看漲期權(quán)。所以選擇C。 但是答案是A，解釋如下，不太明白，請您講解一下。 A is correct. Robert’s exposure to the risk of the stock of the Michelin Group is long. The exposure as a result of the long call position is long. The exposure as a result of the short put position is also long. Therefore, the combined exposure is long. 為什么看漲期權(quán)的風(fēng)險敞口是long，不是short呢？
在第30題中，請問為什么不考慮股數(shù)，只考慮單一股價的return呢？謝謝
If a trader submits an immediate-or-cancel limit buy order for 700 shares at a price of $20.50, the average price the trader would pay is closest to: A. $20.35. B. $20.58. C. $20.50 您的答案：B?正確答案：A?得分：0分 請問這道題怎么算？能請老師解釋一下immediate-or-cancel limit buy order at 20.50的含義嗎？
這道題不是很理解，EBITDA不是比較容易獲得嗎，debt的market value更難獲得，講義上也說是可以替代
make the market 不是成交最優(yōu)買單嗎 ？不應(yīng)該也是吸收了流動性么？ 如果題中的54.62是市場最優(yōu)買單 那是不是就是make the the market 了？
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