Add-on rates是附加利率，你對(duì)這個(gè)知識(shí)點(diǎn)了解多少呢？要知道CFA考試是全英文的，如果看不懂英文是不能做對(duì)題的，那是如何呢？小編給你說(shuō)說(shuō)！

Bank certificates of deposit, repos, and indices such as Libor and Euribor are quoted on an add-on rate basis (bond equivalent yield basis).


附加利率一般用在存款證和回購(gòu)協(xié)議中。

舉個(gè)例子說(shuō)明兩者的算法差異，一個(gè)期限90天的債券，面值是1000元，目前價(jià)格時(shí)950元，它的貼現(xiàn)率的算法是，附加利率的算法為，所以兩者的差異為貼現(xiàn)的分母是面值，而附加利率的分母為價(jià)格。

Which of the following is most likely regarding the bond equivalent

yield?

A. It is stated on a 360-day year and on an add-on yield basis.

B. It is stated on a 365-day year and on an add-on yield basis.

C. It is stated on a 365-day year and on a discount rate basis.

Answer: B is correct，The bond equivalent yield is a money market yield stated on a 365-day year on an add-on rate basis.