- CFA Exams
- CFA Exam: Level I 2021
- Study Session 15. Fixed Income (2)
- Reading 46. Understanding Fixed-Income Risk and Return
- Subject 7. Interest Rate Risk and the Investment Horizon
CFA Practice Question
Which duration measure approximates the percentage price change of a bond given a change in its yield-to-maturity?
B. Modified duration
C. Effective duration
A. Macaulay duration
B. Modified duration
C. Effective duration
Correct Answer: B
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