NO.PZ2015122802000019
问题如下：
An online brokerage firm has set the minimum margin requirement at 55 percent. What is the maximum leverage ratio associated with a position financed by this minimum margin requirement?
选项：
A. 1.55.
B. 1.82.
C. 2.22.
解释：
B is correct.
The maximum leverage ratio is 1.82 = 100% position ÷ 55% equity. The maximum leverage ratio associated with a position financed by the minimum margin requirement is one divided by the minimum margin requirement.
考点：Leveraged Position
最低自有资金出资比例minimum margin requirement=E/A, 而leverage ratio=资产价值/自有资金=A/E， 所以它俩互为倒数。 不要被解析的的百分号迷惑了（美国人思路），其实就是1/55%=1.82
如下附上原版书对于杠杆比率计算的定义：The leverage ratio is the ratio of the value of the position to the value of the equity investment in it.
上课的时候老师在一道例题中讲过IM是等于1/LR的，这里又出现MM等于1/LR，所以其实只要看不同时间节点，这两个等式都是成立的是么？
