NO.PZ2018062010000023
问题如下：
Which bond offers the lowest yield-to-maturity?
选项：
A.
Bond A
B.
Bond B
C.
Bond C
解释：
A is correct.
Bond A's price > par, so A's YTM is lower than its coupon rate, which is 7%.
Bond B's price = par, so B's YTM is equal to its coupon rate, which is 8%.
Bond C's price < par, so C's YTM is higher than its coupon rate, which is 7%.
So bond A offers the lowest YTM.
考点：YTM
解析：债券A价格大于面值，所以债券A的YTM低于其coupon rate (7%)；债券B的价格等于面值，所以债券B的YTM等于其coupon rate (8%)；债券C的价格小于面值，所以债券C的YTM高于其coupon rate (7%)。所以债券A的YTM最低，故选项A正确。
为什么价格大于面值，ytm就要大于coupon rate呢？在哪里有讲到
