- CFA Exams
- CFA Level I Exam
- Topic 6. Fixed Income
- Learning Module 13. Curve-Based and Empirical Fixed-Income Risk Measures
- Subject 1. Curve-Based Interest Rate Risk Measures
CFA Practice Question
Which type of bond has the highest effective duration? Assume other things being equal.
B. callable bond
C. fixed-rate bond
A. zero coupon bond
B. callable bond
C. fixed-rate bond
Correct Answer: A
It is approximately equal to the bond maturity.
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