问题
单项选择题
Which of the following statements regarding spot rates and zero-coupon bonds is least accurate（）
A. The graph of current corporate bond yields is called the spot yield curve.
B. The yield to maturity on a zero coupon bond is called the spot interest rate.
C. With zero coupon bonds, investors have no reinvestment risk.
答案
参考答案：A
解析：
The graph of yields on zero-coupon bonds ( spot rates) is called the spot yield curve. Note that the return on zero-coupon bonds is based entirely on price appreciation. An investor in a default-free zero-coupon bond will not have to worry about reinvesting coupons to realize the yield to maturity--the holder will receive a realized return equal to the bond’s effective annual yield.