问题
单项选择题
Which of the following is least likely a disadvantage of a callable bond to an investor The:（）
A. investor is exposed to reinvestment rate risk.
B. cash flow pattern of a callable bond is not known with certainty.
C. issue often offers a higher coupon rate than a comparable option-free bond.
答案
参考答案：C
解析：
An issuer of a callable bond must compensate the bondholder when the issue is sold by offering a higher coupon rate or accepting a lower price than if the right is not included.