- CFA Exams
- CFA Level I Exam
- Study Session 15. Fixed Income (2)
- Reading 46. Understanding Fixed-Income Risk and Return
- Subject 3. Properties of Bond Duration
CFA Practice Question
The Macaulay duration of a zero coupon bond is affected by its ______.
A. yield-to-maturity
B. coupon rate
C. time-to-maturity
Explanation: The Macaulay duration of a zero-coupon bond is its time-to-maturity.
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