第一次来到人大经济论坛，没找到专门的CFA问题答疑区，只好发在这里了，希望没有发错。问题可能有点多，希望高人能帮我解答一下！
1.Some firms have applied a narrow rule regarding unconsolidated special purposes entities(SPE) to a broad range of transactions, because leverage is lower if the firm does not consolidate the SPE.
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这句话完全没看懂，请问SPE是干吗的？consolidate the SPE应该怎么翻译？为什么leverage会发生变化？

2.Operating leases enhance the balance sheet by excluding any lease liability.
不太明白，Operating leases不是对balance sheet没有影响吗？所以又叫off-balance sheet financing activity，那这里怎么又说能enhance the balance sheet了呢？

3.If the market rate changes to 8% and the bonds are carried at armortized cost, the book value in 2006 will be...
我不太理解are carried at armortized cost是什么意思。答案中有一句话The change in market rates will not affect armortized costs，但我没在课本中找到解释的地方，希望老师帮忙解答一下！

4.请问Finance Lease的Return on equity为什么lower in the early years?

5.stated and effective interest rates分别是什么意思能解释一下吗？我想问effective interest rates和market rates是不是一个东西？

6.bond's yield 和 market rates有什么关系？我这一块实在看得比较迷糊，希望老师能耐心解释一下，谢谢了！很多看了不懂的地方，心比较慌。。。