wuyuan17

Am我觉得还行，不过两个计算怎么算都不对，一个two stage DDM 100%增长率那个,一个是inflation through rate那个，难道我公式用的不对？

下午太强悍了，ethics完全几乎不会，BOP乱猜，大家current acount 选什么，我好像是3.9,

bond portfolio挺新的，notes完全没有，zero coupon的，durantion=maturity把。

residual income也很难算，还有最后那个题目，ICAPM什么的，yes no 那么多，昏，猜都没办法。不过我觉得10年average of minimum variance frontier不对吧。

wuyuan17

有人记得current account你们选的是3。9么？

wuyuan17

ethics: why cannot combine CFA compliance and company policy? CFA compliance should be applied to real situation ba?  And only oral is not enough, should have book, I think.

Global portfolio definitely not right, CAPM no global portfolio a; risk free ICAPM use local+inflation differential?

The local risk free rate is actually not risk free. I guess I choose C.

alternative investment 应该是sale price  对，gross income 错? I choose the one that agree with Mkt price will undervalue and gross income is correct, is this the answer? I cannot remember if the same with you, but I guess so.

wuyuan17

PM The last one: equity risk premium: I  use beta*(Rm-Rf)=5.3%,beta =Cov/variance,Var=18%,Cov=480?

R=Rf+beta(Rm-Rf)=Rf+equity risk premium.

I read it twice, it's equity risk premium, not market risk premium.

wuyuan17

QUOTE:

以下是引用piginaust在2008-6-9 0:29:00的发言：
1)for a research report,factual information can be disclosed to target for verification. So i don't think the answer is "all of the report". btw, what is the difference between "any part of" and "all"?
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I didn't choose this one. definitly not this one. it's relation between analyst and investment banker, not those people said the target company and analyst. there would be a wall(chinese wall)between analyst and investment banker. So investment banker should not read any part, this one is not violated, I choose B maybe?

2)current account balance 是3.9.     Yes,me too


For me, both are wrong, but i choose number 4. because ROE = Re, RI should be 0. 大家怎樣想? yes, me too.

還有 一條,如果剛買了 一個bond, in a short term, which risk is most significant (好像是這樣).選什麼cap risk, default risk, credit spread, downgrade risk.什麼怪題目.我選credit spread.

QUOTE:

I choose Prepayment risk(no call option).

wuyuan17

yes, 40750, PAC amount +interest from last tranche.

But when the PO get most profit(immediately? late? PAC?). I choose according to PAC shedule, I dont know this one really, CFAI so bt a.