NO.PZ2020042003000024
问题如下：
Which of the following statement about
repurchase agreements is NOT correct?
选项：
A. Repurchase agreements or repos are matched
pairs of the spot sale and forward repurchase of a security.
The forward repurchase price of the security
is determined at the end of the agreement.
Repo investments pay a short-term rate without
sacrificing much liquidity or incurring significant default risk.
In some cases, the repo agreements may also request a margin call from borrowers. When collateral declines in value, additional collateral is needed, when market outperforms, excess collateral can be withdrawn.
解释：
考点：对Repurchase Agreements的理解
答案：选项B描述错误，本题选B
解析：
B选项错误，在Repos中，未来的Repurchase price在期初就已约定好：Both the spot
and forward price are agreed now, and the difference between them implies an
interest rate.
Repo investments pay a short-term rate without sacrificing much liquidity or incurring significant default risk.
这句话怎么理解呀？我看之前两位老师给出的解答。。。似乎不太是一个意思。。。
求clarification呀！~~
【repo 的 investor 是收到利息的，没错。C 选项这句话的主语是 repo，就是 repo 这种投资给了投资 repo 的那一方（也就是 repo 的 investor/Lendor）一个短期利息。
C选项说的是repurchase（回购）而不是reverse repurchase（逆回购）。
所以回购的投资者是抵押国债借入资金的一方，借入资金不用承担流动性风险和违约风险（逆回购方要承担）】
这两个一个收到利息。。一个借入资金（which means付出利息对吧）。。。就不太对呀。。。
所以到底C是个啥0.0
Repo investments是指融资的A还是融券的B呀？我感觉应该是融资的A吧？
那后半句without sacrificing much liquidity or incurring significant default risk咋理解捏？~~（求细讲讲~）
蟹蟹蟹蟹！！
