问题
单项选择题
An analyst does research about yield-to-maturity measure. The yield-to-maturity measure for a bond fails to consider the:（）
A. coupon income.
B. reinvestment income.
C. possibility that the bond is sold prior to maturity.
答案
参考答案：C
解析：
到期收益率(YTM)假设所有本金和利息都能及时给付，同时持有到期，并考虑了利息收入及资本的升值或贬值，也考虑了投资收入(假设利息以等于到期收益率的利率再投资)，而到期收益率没有考虑提前出售债券的可能性。