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2353Wrong-Way-Risk Judgment 3Why is wrong-way risk often more severe for option-like exposures than for nearly linear exposures?数理金融中等essay未尝试面试订阅2354Wrong-Way-Risk Judgment 4Why are wrong-way risk and credit-copula modeling related but not the same problem?数理金融中等essay未尝试面试订阅2355Wrong-Way-Risk Judgment 5Why does wrong-way risk often show up first in stress testing before it shows up in daily pricing formulas?数理金融中等essay未尝试面试订阅2361Wrong-Way-Risk Judgment 11Why are simple scenario tables a useful first pass for wrong-way risk?数理金融困难essay未尝试面试订阅2362Wrong-Way-Risk Judgment 12Why is historical correlation alone usually not enough to justify a wrong-way-risk assumption?数理金融困难essay未尝试面试订阅2363Wrong-Way-Risk Judgment 13Why do tail states matter more than average states for wrong-way analysis?数理金融困难essay未尝试面试订阅2364Wrong-Way-Risk Judgment 14Why do stress narratives need economic logic instead of just numerical severity?数理金融困难essay未尝试面试订阅2365Wrong-Way-Risk Judgment 15Why are wrong-way-risk conversations naturally cross-functional across trading, credit, collateral, and legal teams?数理金融困难essay未尝试面试订阅3706Other Factor Drift After Making a Stock Discounted Price DriftlessA traded underlier satisfies dS t/S t = 0.09dt + 0.25dW t under P, while another factor satisfies dY t = 0.2dt + 0.4dW t with the same Brownian driver. If Q is chosen so the discounted stock has drift 0 at rate r = 0.03, what is the drift of Y under Q?随机过程中等derivation未尝试面试订阅3707Convenience-Yield Drift Under the Pricing MeasureA traded underlier satisfies dS t/S t = 0.12dt + 0.3dW t under P, while another factor satisfies dY t = -0.1dt + 0.15dW t with the same Brownian driver. If Q is chosen so the discounted stock has drift 0 at rate r = 0.04, what is the drift of Y under Q?随机过程中等derivation未尝试面试订阅3716Forecasting Client Inventory PnL Versus Marking an Embedded OptionA desk wants a distribution for next month's realized client-inventory PnL, but it also needs today's fair value for an embedded option inside that inventory. Which measure belongs to each task, and why are the answers not contradictory?随机过程中等essay未尝试面试订阅3717Historical Carry Is High but the Pricing Drift Is LowA junior notices that a commodity future has shown high historical carry under the data, yet the desk prices an option on that future under a measure with much lower effective drift. How should you explain the gap?随机过程中等essay未尝试面试订阅3718Backtesting a Signal Versus Pricing Its Optional OverlayA PM is backtesting a signal-driven strategy and also wants to value a stop-loss overlay that behaves like an option. Which measure should dominate each part of the workflow?随机过程中等essay未尝试面试订阅3719Stress Testing a Hedge Book Versus Marking It TodayRisk asks for a stress distribution of tomorrow's hedge-book PnL, while front office asks for today's mark of the same book. Should both use the same measure?随机过程中等essay未尝试面试订阅3720Why VaR and Option Price Should Not Share a Drift Assumption by DefaultWhy is it usually a mistake to force the same drift assumption into both VaR simulations and derivative pricing models?随机过程中等essay未尝试面试订阅3721Choosing a Measure for Expected Realized Dividend YieldAn equity team wants the expected dividend yield that will actually be realized over the next year. Should that expectation be taken under P or Q?随机过程中等essay未尝试面试订阅3722Explaining Why Q Is Not 'What the Market Thinks Will Happen'A candidate says Q is simply 'the market's true belief about future prices.' Why is that statement too crude?随机过程中等essay未尝试面试订阅3723Why P Is Not Enough to Price a Replicable ClaimWhy is a physical-measure expectation not enough on its own to pin down the fair price of a replicable derivative?随机过程中等essay未尝试面试订阅3724Scenario Analysis for a Funding DeskA funding desk wants a scenario distribution for next week's funding spread moves so it can size liquidity buffers. Which measure is appropriate?随机过程中等essay未尝试面试订阅3725Monte Carlo for CVA Price Versus Monte Carlo for Expected Exposure ForecastIf one Monte Carlo is being run for CVA pricing and another for a forecast of realized counterparty exposure paths, should they naturally live under the same measure?随机过程中等essay未尝试面试订阅