課后習(xí)題3小題，麻煩老師解釋一下這幾個選項。謝謝！
Reading29課后習(xí)題21題，為什么答案要選A而不是B，麻煩老師解釋一下
請在PPT page 105中，老師提到 nominal return (5.53%) inflation (4%) = required rate of return 但是5.53% 應(yīng)該已經(jīng) inflation-adjusted rate of return? 因為income 跟 expenses都調(diào)整過了，而且題目沒有說 mortgage 會因為inflation 調(diào)整。 另外，一般狀況下，是 Real rate of return inflation = Nominal rate of return 吧?
請問老師， Reading28 課后題第3題，investment property的risk tolerance為什么是lower？ 決定risk tolerance高低的總體原則是什么？謝謝！
請問原版書課后題R32第13題，麻煩老師講一下這道題壽險如何解決遺產(chǎn)規(guī)劃流動性問題，如果葡萄園的價值高于資產(chǎn)總值的三分之一好，如何做到遺產(chǎn)均分呢？謝謝
老師，請問書本書本470頁第二十一題答案，An ALDA would provide the greatest supplemen-tal level income relative to the cost because the payments are made far in the future, life expectancy is shorter when the payments begin, and some policy-holders will die without receiving payments.這一段不太理解是什么意思？
老師，請問書本470頁第二十二題答案，fiancial captial為什么不包括insurance？insurance和annuity是屬于fiancial capital還是human capital？
老師，請問書本467頁第十五題，文中已經(jīng)給出cash value，為什么計算時不扣除cash value？
老師，請問書本467頁第十一題答案，能否詳細(xì)解釋一下human capital公式是什么意思？各指代什么？
老師，請問書本466頁第三題，A indemnity plan, B preferred provider plan, C health maintenance organization plan各自指什么意思？
老師，請問書本391頁第十二題答案，F(xiàn)rom 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. This strategy would be 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這一段怎么理解？為什么會rolled over into the new entity? tax increase是什么情況？
老師，請問書本391頁第十一題答案，There are two potential drawbacks with this strategy: The investor retains full downside exposure to the shares (to the extent the share price decreases by more than the premium received), and the upside potential is limited (the call strike price plus the premium received).第一點不太明白？股價下降不是既能保留股票又能賺取期權(quán)費，為什么會是缺點？第二點括號里的和limited有什么關(guān)系？這里是想表達(dá)什么意思？
老師，請問書本329頁第三題C，不太明白題目和答案是什么意思？
老師，請問書本328頁第二題B答案， Although the annual spending cash flows are not riskless, a risk- free rate should be used to cal-culate the present value of the cash flows as their uncertainty is unrelated to market risk factors that would be priced in a normal asset pricing model, making their beta equal to zero這一段怎么理解？為什么用risk-free rate 就making their beta equal to zero？
老師，請問書本279頁第二十一題答案，Assuming DiCenzo does not reinvest the tax savings, tax loss harvesting does not reduce the total tax paid over time. It only defers taxes because recognizing the loss resets the cost basis to a lower figure which will ultimately increase the gain realized late by the same amount. Tax loss harvest can augment return by postponing tax liabilities. Reinvesting the current year’s tax savings increases the after- tax principal investment, which can augment the value of tax loss harvesting further這一段怎么理解？不太明白？
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