NO.PZ2018062010000019
问题如下：
The curve obtained from a sequence of yield-to-maturity such that each bond is priced at principal is:
选项：
A.
Forward curve.
B.
Par curve.
C.
Spot curve.
解释：
B is correct.
Par curve is a a sequence of yield-to-maturity such that each bond is priced at par value. It is obtained from a spot curve.
Spot curve is a series of yield-to-maturity on zero coupon bond.
考点：yield curve
解析：Par Curve是人为假设的一个债券，这个债券的价格等于面值，它对应的YTM构成Par Curve。题干描述的是par curve，故选项B正确。
那不对哇，zero coupond不是一定要折价发行吗？yield curve 好想和定价无关？是要最新发行和活跃交易的bond 要求的是流动性叭？
