"Fixed Income": bond

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來(lái)源: 正保會(huì)計(jì)網(wǎng)校編輯：小鞠橘桔 2021/03/19 10:24:15　字體：大小

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Questions 1:

Given two otherwise identical bonds, when interest rates rise, the price of Bond A declines more than the price of Bond B. Compared with Bond B, Bond A most likely:

A 、has a shorter maturity.

B、 is callable.

C、 has a lower coupon.

Questions 2:

If the yield to maturity on an annual-pay bond is 7.75%, the bond-equivalent yield is closest to:

A、 8.05%.

B、 7.90%.

C 、7.61%.

View answer resolution

【Answer to question 1】C

【analysis】

C is correct. The lower the coupon rate, the more sensitive the bond’s price is to changes in interest rates.

A is incorrect because the maturity would have to be longer for Bond A relative to Bond B.

B is incorrect because when interest rates rise, the price of a callable bond will not fall as much as an otherwise option-free bond.

【Answer to question 2】C

【analysis】

C is correct.

Fixed Income: bond

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