NO.PZ2018062020000009
问题如下：
Which of the following statements is the best description of the repo margin?
选项：
A.Repo margin is the bilateral negotiation between counterparties.
B.Repo margin is the difference between the book value of the security used as collateral and the value of the loan.
C.If the market value of collateral increases, the repo margin will give a margin of safety to the cash lender.
解释：
A is correct.
Repo margin is negotiated bilaterally between counterparties.
B is incorrect. Repo margin is the difference between the market value of the security used as collateral and the value of the loan, not the book value.
C is incorrect. The repo margin provides a margin of safety to the cash lender if the collateral’s market value declines.
b和c分別錯哪了請解釋
所以是market value，而不是book value。