问题如下图：
为什么zero coupon rate 和 spot rate 能等同
选项：
A. 
B. 
C. 
D. 
解释：
NO.PZ2016082402000052 问题如下 Suppose ththe yielcurve is upwarsloping. Whiof the following statements is true? A.The forwarrate yielcurve is above the zero-coupon yielcurve, whiis above the coupon-bearing bonyielcurve. B.The forwarrate yielcurve is above the coupon-bearing bonyielcurve, whiis above the zero-coupon yielcurve. C.The coupon-bearing bonyielcurve is above the zero-coupon yielcurve, whiis above the forwarrate yielcurve. The coupon-bearing bonyielcurve is above the forwarrate yielcurve, whiis above the zero-coupon yielcurve. ANSWER: ASee Figures below: The coupon yielcurve is average of the spot, zero-coupon curve; henit hto lie below the spot curve when it is upwarsloping. The forwarcurve cinterpretethe spot curve plus the slope of the spot curve. If the latter is upwarsloping, the forwarcurve hto above the spot curve.解析假设利率曲线是向上倾斜的，下面那一个说法是正确的？利率曲线向上倾斜的时候，forwarrate高于spot rate高于 pyiel利率曲线向下倾斜的时候，pyiel于spot rate高于forwarrate。所以A正确。 1,zero-coupon yiel是spot rate?2.coupon-bearing bonyiel是prate吗？为什么？prate 只是一种特殊的coupon-bearing bonyiel，讲义里的三条yielcurve中一条是prate呀，为什么这道题里用一般的coupon-bearing bonyiel替prate呢？谢谢。
为什么upwarng的时候Par-rate要小于Spot Rate
看了之前的解答，似乎并没有清楚。 为什么coupon-bearing bon在这里可以看作是prate？逻辑关系在哪里？
Coupon bearing bon是有coupon的债券，为什么是类同于pyiel，不是spot rate yiel
