No.PZ2016031001000024 (选择题)B确实可以，但A的票息晚支付，在经济不好的情况下，能够降低在投资风险（经济不好，无风险收益率降低），所以A也许也不错？

问题如下：

Investors seeking some general protection against a poor economy are most likely to select a:

选项：

deferred coupon bond.

credit-linked coupon bond.

payment-in-kind coupon bond.

解释：

B is correct.

A credit-linked coupon bond has a coupon that changes when the bond’s credit rating changes. Because credit ratings tend to decline the most during recessions, credit-linked coupon bonds may thus provide some general protection against a poor economy by offering increased coupon payments when credit ratings decline.

考点：credit-linked coupon bond

解析：credit-linked指的是coupon rate会随着信用质量的改变而改变。当信用质量下滑，风险更高，coupon rate随之而增加。对于这种债券的投资者来说，这种债券可以给我们提供一个由于信用质量下滑带来风险的保护。故选项B正确。