问题
单项选择题
An analyst does research about the limitations of cash flow yield. Which of the following statements is least accurate to be a shortcoming in application of the cash flow yield measure（）
A. The projected cash flows are assumed to be reinvested at the cash flowyield.
B. The mortgage-backed or asset-backed security is assumed to be held until the final payoff of all the loans, based on some prepayment assumption.
C. Because of principle prepayments, in order to project cash flow it is necessary to make an assumption about the rate at which principle prepayments will occur.
答案
参考答案：C
解析：
选项A和B都是现金流收益率的局限性。其中一个缺陷是现金流收益率假设以该收益率获得再投资收入，而实际情况可能不同。另外一个缺陷是假设根据提前偿付的假设持有到期，但有可能会提前偿还本金。选项C则不是现金流收益率的局限性。