- CFA Exams
- CFA Level I Exam
- Study Session 14. Fixed Income (1)
- Reading 44. Introduction to Fixed-Income Valuation
- Subject 5. Yield Measures for Fixed-Rate Bonds

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**CFA Practice Question**

What is the annual-pay yield of a bond with a 12% yield on a semi-annual-pay basis?

A. 11.66%

B. 12.00%

C. 12.36%

**Explanation:**[(1+0.12/2)

^{2}-1] = 12.36%

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**User Contributed Comments**
2

User |
Comment |
---|---|

Rohule |
use iconv on a baii |

andrej0143 |
2nd, 2(Button) NOM=12 EFF=CPT C/Y = 2 |