- CFA Exams
- CFA Level I Exam
- Topic 6. Fixed Income
- Learning Module 44. Introduction to Fixed-Income Valuation
- Subject 5. Yield Measures for Fixed-Rate Bonds
CFA Practice Question
In order to calculate a bond's present value, we use the ______ to discount all cash flows.
A. yield to maturity
B. current yield
C. simple yield
Explanation: The yield to maturity is the internal rate of return on the cash flows.
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