问题
单项选择题
Which of the following statements regarding the option adjusted spread (OAS) is least accurate The option adjusted spread:（）
A. is used to adjust for the cost of the embedded option.
B. is the spread that accounts for non-option characteristics like credit risk, liquidity risk, and interest rate risk.
C. for a putable bond is the Z-spread minus the cost of the option.
答案
参考答案：C
解析：
Since the buyer of a putable bond must pay extra for the put option, the OAS spread for a putable bond is the Z-spread plus the put option cost in percent.
