case 5的第一題，他沒有說heavy tax regime是對利息還是對資本利得征稅??？那怎么選呢？
gift給到女兒，算女兒的income需要交income tax嗎
case 4的第3題，什么是對手方風險？您能否稍微解釋一下。是否可以理解衍生品的對手方風險比較高？如果是單純買賣正股的話對手方風險比較低？
老師 第二個策略有未來上漲空間，從出售股權(quán)的角度不算yield enhancement嗎？
老師就是short sale是怎么解決手上有集中股票的風險呢？short sale是借入給賣了，但是這里不是手上有嗎？
老師您好，有關(guān)private wealth manage case 1中的第3題您說寫得不好，當中一個原因是pension fund是不是應(yīng)該算在另外的資產(chǎn)類別里，請很快問一下您holistic balance sheet= 一般assets＋human capital現(xiàn)值，還有什么呢謝謝，這題不是很完整，那正確的解法是什么呢。
老師，關(guān)于longevity risk，2016年Q6的E問，由于從每個月有固定現(xiàn)金流的DB plan，轉(zhuǎn)成了有一筆lump sum的DC plan，相當于把個人portfolio中固收類產(chǎn)品賣掉，轉(zhuǎn)為equity類，暴露在了更多的market risk中，所以longevity risk上升；但在2015年Q8的A的ii問中，又變成固收類產(chǎn)品占比上升，因為固收類產(chǎn)品的低回報特性，所以longevity risk上升。2種說法我自己感覺都有道理，就看你角度選哪個，這類題有沒有什么判定標準啊，感覺如果和出題人不是一個思路，很容易選錯啊
想請問recapitalization 中” From a tax perspective, the owner is taxed currently on the cash received and typically receives a tax deferral on the stock rolled over into the new entity. “ 為何 appealing to a business owner considering selling a private business in the near future and residing in a jurisdiction where tax rates are scheduled to increase.?
請問這題中提到"Barksdales’ human capital is valued at $2.9 million and estimated to be 35% equity-like. Smith determines that an overall target allocation of 40% equity is appropriate for the Barksdales’ total assets on the economic balance sheet." 40%應(yīng)該不算多，為什麼第一個選項正確呢?
你好，請問Kaplan第二冊Exam1早上題，第七問的A Part第2個小問題怎么理解？是從Cash drag的角度嗎？
這里只說了living expense會按照3%遞增，為什么3%可以在最后算nominal return的時候當作整個portfolio的inflation去加？
請問這題關(guān)於systematic risk vs nonsystematic risk 這樣的寫法有哪邊需要改進呢?
vested plan 屬于已有的financial asset，unvested plan 是屬于未來的human capital？是這樣嗎？
請問關(guān)於protective put這樣寫有沒有哪裡需要加強的謝謝 1. The hedging tool referred to is protective put. The protective put is constructed by longing positions and puts and can allow investors to protect the downside and retain the upside of the underlying positions. 2. The protective put can deliver the desired result as the investor wants to lock-in a floor price and retain the unlimited upside.
請問關(guān)於goal based這題解答寫得很長，如果我考試的時候這樣寫是否不行? 1. The investor allocates a large amount of his capital to assets exposing to high volatility, which might pose too much risk. 2. The amount of assets being located at each level depends on the volatility and probability of achievement of a specific goal. 3. The aspirational bucket should allocate a lower amount of the investor's capital because the asset allocated at this level indicates a lower probability of success and higher volatility. Morrison allocates 90% of his assets to the aspirational bucket, which indicates he is exposed to too much risk.
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