Add-on rates是附加利率，你對這個知識點了解多少呢？要知道CFA考試是全英文的，如果看不懂英文是不能做對題的，那是如何呢？小編給你說說！
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協(xié)議中。
舉個例子說明兩者的算法差異，一個期限90天的債券，面值是1000元，目前價格時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.
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