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Basic Question 16 of 24

The key assumption when calculating effective duration and effective convexity is ______

A. the yield curve is sloping upwards.
B. there is a parallel yield curve shift.
C. there is a term structure of yield curve.

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Learning Outcome Statements

explain why effective duration and effective convexity are the most appropriate measures of interest rate risk for bonds with embedded options

calculate the percentage price change of a bond for a specified change in benchmark yield, given the bond's effective duration and convexity

CFA® 2025 Level I Curriculum, Volume 4, Module 13.