NO.PZ2018062020000002
问题如下：
If an investor invested a floating-rate bonds based on London interbank offered rate(Libor), which of the following factors most likely affect the investor's return?
选项：
A. The reference rate.
B. The spread of the bond.
C. The interest rate based on market.
解释：
A is correct.
The coupon rate of a floating rate bond is typically expressed as a reference rate (Libor) plus a spread. The spread is usually set when the bond is issued and stabled until maturity. The reference rate resets periodically and the coupon rate adjusts each time when the reference rate resets. Thus the investor's return depends on the reference rate.
考点：浮动利率债券
解析：浮动利率债券的coupon rate=reference rate+quoted margin(spread)。其中，spread是不变的，reference rate是不断变化的。因此，最能够影响到投资者收益的就是reference rate，故A正确。
老师，您好。严谨地来说，C选项是不是也是对的，基于问题它是成立的？谢谢。
