電大?？仆顿Y分析考試小抄打印版(已改無錯字)
2023-07-18 14:25:51 本頁面
【正文】 52 萬平方米，銷售收入為 33652 萬元，可變成本為 11151 萬元，銷售稅金為 1578 萬元，年固定成本為 10894 萬元。求：盈虧平衡點的產(chǎn)銷量。 解： BEP=TCS CVF ??= 15 7811 15 133 65 2 10 89 4 ?? *100% =% 盈虧平衡點的產(chǎn)量為 52*= 萬平方米 已知某種現(xiàn)貨金融工具的價格為 100 元，假設(shè)該金融工具的年收益率為 10％，若購買該金融工具需要融資， 融資的利率為 12％，持有渡現(xiàn)貨金融工具的天數(shù)為 180 天，那么在市場均衡的情況下，該金融工具期貨的價格為多少？ 解： C=S（ yr） *t/360 B=SF 在市場均衡的條件下，基差正好等于持有成本，即 B= C，于是 S（ yr） *t/360=SF 整理得： 第 7 頁 共 9 頁 F =S[1+（ r y） *t/360] =100 *[1+（ 12%— 10%） *180/360] =101 元 某商品現(xiàn)在的價格為 100 元，某人簽定該商品的一個期權(quán)合約，期權(quán)的履約價格為 100 元，權(quán)利期間為 1 年，已知無風(fēng)險年利 率為 10％，該商品收益率的標準差為 10％。 （ l）如果他認為該期權(quán)是看漲期權(quán)，他愿意支付的權(quán)利金為多少？ （ 2）如果他認為該期權(quán)是看跌期權(quán)，他愿意支付的權(quán)利金為多少？ 解：第一步，先算出 d1,d2 d 1=TT)21R()pp(ln 2t???? =1*) . 1()1 0 01 0 0(ln 2?? = d2= d 1 T? =*1= 第二步，查標準正態(tài)分布表，知 N（ d 1） = N（ d 2） = （ 1） 如果他認為該 期權(quán)是看漲期權(quán)，他愿意支付的權(quán)利金為 PC=P N（ d 1） — PeertN（ d 2） =100**1* = 元 如果他認為該期權(quán)時看跌期權(quán)，他愿意支付的權(quán)利金為 Pp=P[ N（ d 1） 1]— Peert[1N（ d 2） ] =100*[ ]— *1[] = 元 1一個 30 歲的顧客打算購買一個 1000 元的 5 年定期的保單，假設(shè)年貼現(xiàn)率為 25％。（ 1）若保費一次繳清，則需交納脅保費為多少？ （ 2）若每年交納等額均衡凈保費，①每年交納的保費為多少？ 附：（ l）貼現(xiàn)率為 2． 5％時 1 元的現(xiàn)值 年份 1 2 3 4 5 現(xiàn)值 （ 2）生命表 30 31 32 33 34 35 36 年初生存人數(shù) 9480358 9460165 9439447 9418208 9396358 9373807 9350279 年內(nèi)死亡人數(shù) 20213 20718 21239 21850 22551 23528 24685 解：（１）通過查閱生命表，得知一個年齡 30 歲的人在該年死亡的概率市 20213／ 9480358，把這一分數(shù)乘以 1000 元得出保險人為了在年末給付死亡保險金必須從每個投保人取得的金額。然而，既然保險費市預(yù)付的，死亡保險金在年末給付，所第 8 頁 共 9 頁 需的金額能以一年的利率貼現(xiàn)。從表中可找到在年貼現(xiàn)率為 %時一元的現(xiàn)值是 。因此，年齡 30 歲的一次繳清凈保費是 元 948035820213*1000*= 元 以后各年的保費以同樣方式計算，得 31 歲 946016520718*1000*= 元 32 歲 943944721239*1000*= 元 33 歲 941820821850*1000*= 元 34 歲 939635822551 *1000*= 元 所需交納的保費為： ++++= 元 （ 2）一元五年 定期期首給付年金現(xiàn)值的計算過程為：就第一年而言，一元保費是立即交付的。第二年，查閱表一得出 30歲的人將在 31 歲仍生存的概率是 9460165/9480385，這個分數(shù)乘以一元，其乘積再使用一年利率貼現(xiàn)，得出第二次繳付一元的現(xiàn)值，其余三年的計算程序相同 30 歲 =1 元 31 歲 94 80 35894 60 165 *= 32 歲 94 80 35 894 39 44 7 *= 33 歲 94 80 35894 18 208 *= 34 歲 94 80 35893 96 358 *= 一元保險費繳付系列的現(xiàn)值 = 即五年定期期首給付年金的現(xiàn)值是 元，因此， 每年凈均衡保費 = = ag an employment tribunal clai Emloyment tribunals sort out disagreements between employers and employees. You may need to make a claim to an employment tribunal if: you don39。t agree with the disciplinary action your employer has taken against you your employer dismisses you and you think that you have been dismissed unfairly. For more informu, take advice from one of the anisations listed under Fur ther help. Employment tribunals are less formal than some other courts, but it is still a legal process and you will need to give evidence under an oath or affirmation. Most people find making a claim to an employment tribunal challenging. If you are thinking about making a claim to an employment tribunal, you should get help straight away from one of the anisations listed under Further help. ation about dismissal and unfair dismissal, see Dismissal. You can make a claim to an employment tribunal, even if you haven39。t appealed against the disciplinary action your employer has taken against you. However, if you win your case, the tribunal may reduce any pensation awarded to you as a result of your failure to appeal. Remember that in most cases you must make an application to an employment tribunal within three months of the date when the event you are plaining about happened. If your application is received after this time limit, the tribunal will not usually accept i. If you are worried about how the time limits apply to you If you are being represented by a solicitor at the tribunal, they may ask you to sign an agreement where you pay their fee out of your pensation if you win the cas e. This is known as a damagesbased agreement. In England and Wales, your solicitor can39。t charge you more than 35% of your pensation if you win the case. You are clear about the terms of the agreement. It might be best to get advice from an experienced adviser, for example, at a Citizens Advice Bureau. To find your nearest CAB, including those that give advice by , click on nearest CAB. For more information about making a claim to an employment tribunal, see Employment tribunals. The (lack of) air up there Watch m Cay man Islandsbased Webb, the head of Fifa39。s antiracism taskforce, is in London
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