57．For a particular bond, the bid-ask spread is the primary measure most likely associated with:
Select exactly 1 answers from the following:
A. liquidity risk.
B. volatility risk.
C. credit spread risk.
D. reinvestment risk.
答案和详解如下！
Feedback: Correct answer: A
Fixed Income Analysis for the Chartered Financial Analyst Program, 2nd edition, Frank J. Fabozzi (Frank J. Fabozzi Associates, 2004), pp. 40 2006 Modular Level I, Vol. IV, pp. 48-49 Study Session 14-63-a explain the risks associated with investing in bonds (e.g., interest rate risk, yield curve risk, call and prepayment risk, reinvestment risk, credit risk, liquidity risk, exchange-rate risk, inflation risk, volatility risk, and event risk)
The primary measure of liquidity is the size of the spread between the bid price and the ask price. The wider the bid-ask spread, the less liquidity and the more liquidity risk a security has.
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发表于 2006-11-22 11:12
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