robertwen

In recommended procedures of compliance. Review procedures. Members and candidates should review or encourage their employers to review written compliance procedures on a regular basis in order to ensure that they reflect current law and provide adequate guidances to empoyees concerning what is permissible conduct under the law and or the  CFA Insititue Code and Standards. Recommended compliance procedures for specific items of the CFA Insititue Code and Standards are discussed within the guidance associated with each standard.

So why not the company can establish compliance procedures  or policy based on specific items of the CFA Insititue Code and Standards?

nowhere

QUOTE:

以下是引用obscurer在2008-6-10 16:47:00的发言：
记得还有一题是DERIVATIVE要对冲利率下调的风险，又要保持流动性能够享受利率上升的POTENTIAL，应该是SELL PAYER吧

我选的buy put and sell cap.....记得题目是对冲利率下跌的风险，同时如果利率不快速上涨，能够有一些收益。

xuyanyanmo

楼上的那个，你是不是把RI和DDM的题搞杂糅了呀……

obscurer

记得还有一题是DERIVATIVE要对冲利率下调的风险，又要保持流动性能够享受利率上升的POTENTIAL，应该是SELL PAYER吧

xuyanyanmo

个人认为是可以的，楼上，但是我觉得restricted stock是不可以的

不知道你们怎么看？

aphay

上午感觉还行，下午差点抓瞎，跳过去两个题，做完了幸好还有时间，回来再做，好像有点思路，反正都填满了，等结果吧！

henrypark

should be credit spread. Not downgrade risk.

obscurer

关于道德，还是想请问一下SMALL PACKAGE的礼物允许么？　个人觉得应该无伤大雅吧，况且我记得题目里说都是带有公司LOGO的，更象是宣传之用，应该问题不大吧。

obscurer

我明明记得那个公司的指标都改善了，怎么会选DEFAULT和DOWNGRADED呢，由于本身的评级是BBB+，所以应该是CREDIT SPREAD啊。

jarodmeng

QUOTE:

以下是引用jerry2008在2008-6-10 14:11:00的发言：

强烈双手同意YIQIUCK 的说法,你一字不落的说出了我要说的话! 我和你一样也仔细看了原文,刚好也是反复看了这句话,明明说了很STABLE,怎么要考虑DOWNGRADE 风险呢

虽然我考的不是5050卷，但还是觉得奇怪，non-callable bond怎么会有prepayment risk呢？