问题
单项选择题
With respect to an option-free bond, when interest-rate changes are large, the duration measure will overestimate the:（）
A. fall in a bond’s price from a given increase in interest rates.
B. increase in a bond’s price from a given increase in interest rates.
C. final bond price from a given increase in interest rates.
答案
参考答案：A
解析：
When interest rates increase by 50 - 100 basis points or more, the duration measure overestimates the decrease in the bond’s price.