问题
单项选择题
An investor most concerned with reinvestment risk would be least likely to:（）
A. eliminate reinvestment risk by holding a coupon bond until maturity.
B. prefer a lower coupon bond to a higher coupon bond.
C. be more concerned in a decreasing interest rate environment.
答案
参考答案：A
解析：
The key term here is coupon bond. While an investor in a fixed-coupon bond can usually eliminate price risk by holding a bond until maturity, the same is not true for reinvestment risk. The receipt of periodic coupon payments exposes the investor to reinvestment risk.