NO.PZ2016031001000023
问题如下:
A five-year bond has the following cash flows:
The bond can best be described as a
选项:
A.
bullet bond.
B.
fully amortized bond.
C.
partially amortized bond.
解释:
B is correct.
A bond that is fully amortized is characterized by a fixed periodic payment schedule that reduces the bond’s outstanding principal amount to zero by the maturity date. The stream of £230.97 payments reflects the cash flows of a fully amortized bond with a coupon rate of 5% and annual interest payments.
考点:cash flow structure
解析:完全摊销的债券的特点是有一个固定的定期支付时间表,使债券的未偿还本金在到期日减少到零。故选项B正确。
为什么选fully amortization,判断依据是计算出来的,还是根据现金流特征呢?为什么不选A