- CFA Exams
- CFA Level I Exam
- Topic 6. Fixed Income
- Learning Module 12. Yield-Based Bond Convexity and Portfolio Properties
- Subject 1. Bond Convexity and Convexity Adjustment
CFA Practice Question
The "convexity of a bond" measures ______.
B. the small change in price for a small change in yield.
C. the change in price not explained by duration when large interest rate changes occur.
A. the approximate percentage price change for an interest rate or yield change.
B. the small change in price for a small change in yield.
C. the change in price not explained by duration when large interest rate changes occur.
Correct Answer: C
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