单项选择题

Which of the following steps is NOT used in the full valuation approach in measuring interest rate risk（）

A. Estimate hypothetical changes in required yields.
B. Calculate the bond’s convexity.
C. Recompute bond prices using the new required yields.

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单项选择题A year ago a company issued a bond with a face value of $1000 with an 8 percent coupon. Now the prevailing market yield is 10 percent. What happens to the bond The:（）

A. bond is traded at a market price higher than $1000.
B. bond is traded at a market price less than $1000.
C. company has to issue a new 2 -percent coupon bond.

单项选择题Which of the following statements about duration is FALSE（）

A. The numerator of the effective duration formula assumes that market rates increase and decrease by the same number of basis points.
B. Effective duration is the exact change in price due to a 100 basis point change in rates.
C. For a specific bond, the effective duration formula results in a value of 8.80%. For a 50 basis point change in yield, the approximate change in price of the bond would be 4.40%.