2021年CFA考试《Level Ⅰ》考试题库-CFA考试（Level Ⅰ）-Mock Exam 1 Afternoon Session-

财会经济-CFA特许金融分析师

单选题-For bonds that have the same maturity date and same yield to maturity, the reinvestment risk for an investor holding the bonds to maturity is greatest for the bonds that are selling at:

单选题

A.Par value

B.A premium to par value

C.A discount to par value as a result of the bonds being issued as zero-coupon bonds

我个人认为这个应该是：B

解析：Holding maturity and yield constant, bonds selling at a premium would have the highest coupon payments and the highest amount requiring reinvestment. The reinvestment income has to make up the capital loss that will be realized if the bond is held to maturity.