PM experts much needed... ask, sometimes, expected, question

malbec

I'd like to ask some Portfolio Mgmt questions, please help me!

1/ CFAI textbook, page 575, reading 68, question 1B, why is spending rate not considered liquidity requirement?

2/What is the residual standard deviation for an asset? Is it the unsystematic risk? I thought unsystematic risk should be residual variance.

3/ Why is systematic risk sometimes Beta, but sometimes B square times variance of market portfolio?

4/ When calculate expected spot rate, use inflation differential, when calculating forward rate, use interest rate differential. Is that correct?

5/ CFAI textbook, page 515, reading 66, Question 15, when you regress Australian stock index with USD per $A, you get the LC exposure of Australian stock of -0.5. How about when you regress Australian stock index with $A per USD, do you get 0.5 and does that mean something?

6/ CFAI textbook, page 466, reading 64, Question 18, why an investor w/o a job wants to invest in recessive sensitive stocks? I can't wrap my head around this concept at all.

Thanks very very much!!!