问题如下图：
选项：
A. 
B. 
C. 
解释：
确认下，Feature 2 is incorrect, only because of expression of "liquidating bond"? if it is principal of bond, feature 2 is corect?
发亮_品职助教 · 2019年03月30日
对的，Cash flow matching不需要提前卖出债券。
用Cash flow matching时，用来偿付Liability的现金流：只来自Coupon现金流和本金的偿还。
看到Cash flow matching，即不存在再投资的风险（Coupon reinvestment Risk），由于是持有至到期也不存在卖出债券时的价格风险（price risk），所以我们才说Cash flow matching是不需要利率假设的，因为不存在利率对现金流的影响。
Cash flow matching只需要我们能做到资产的Coupon + Principal现金流发生的金额和日期完美地和Liability的现金流金额和日期匹配即可。
NO.PZ201812020100000105 问题如下 Is Cécile correctwith respeto key features of liability-basemantes? Yes. No, only Feature 1 is correct. No, only Feature 2 is correct. Ais correct. Liability-basemantes are investments thtake investor’s futureobligations into consiration. Liability-basemantes are manageto matchexpecteliability payments with future projectecash inflows. These types ofmantes are structurein a wto ensure tha liability or a streofliabilities ccovereanthany risk of shortfalls or ficient cashinflows for a company is minimize 本题是针对cash flow matching 问的还是针对上一级概念 liability-iven mante来问的?对于两个feature 有原版书对应的原文吗？
NO.PZ201812020100000105问题如下 Is Cécile correctwith respeto key features of liability-basemantes? Yes. No, only Feature 1 is correct. No, only Feature 2 is correct. Ais correct. Liability-basemantes are investments thtake investor’s futureobligations into consiration. Liability-basemantes are manageto matchexpecteliability payments with future projectecash inflows. These types ofmantes are structurein a wto ensure tha liability or a streofliabilities ccovereanthany risk of shortfalls or ficient cashinflows for a company is minimize 没说明是cash flow matching？
NO.PZ201812020100000105 问题如下 Is Cécile correctwith respeto key features of liability-basemantes? Yes. No, only Feature 1 is correct. No, only Feature 2 is correct. Ais correct. Liability-basemantes are investments thtake investor’s futureobligations into consiration. Liability-basemantes are manageto matchexpecteliability payments with future projectecash inflows. These types ofmantes are structurein a wto ensure tha liability or a streofliabilities ccovereanthany risk of shortfalls or ficient cashinflows for a company is minimize minimize cash flow ficient risk不是match才有的特点吗，但这道题只说是liability base approach
NO.PZ201812020100000105 No, only Feature 1 is correct. No, only Feature 2 is correct. Ais correct. Liability-basemantes are investments thtake investor’s futureobligations into consiration. Liability-basemantes are manageto matchexpecteliability payments with future projectecash inflows. These types ofmantes are structurein a wto ensure tha liability or a streofliabilities ccovereanthany risk of shortfalls or ficient cashinflows for a company is minimize 没看明白feature 2哪里有提是principal还是liqution price？
NO.PZ201812020100000105问题如下 Is Cécile correctwith respeto key features of liability-basemantes? Yes. No, only Feature 1 is correct. No, only Feature 2 is correct. Ais correct. Liability-basemantes are investments thtake investor’s futureobligations into consiration. Liability-basemantes are manageto matchexpecteliability payments with future projectecash inflows. These types ofmantes are structurein a wto ensure tha liability or a streofliabilities ccovereanthany risk of shortfalls or ficient cashinflows for a company is minimize 前面都懂，唯独不理解答案的这句话any risk of shortfalls or ficient cash inflows for a company is minimize怎么会扯到cash inflow呢？能否告知这个知识点在基础版讲义中的什么地方？