问题
单项选择题
Yield to call is a less conservative yield measure than the yield to maturity whenever the price of a callable bond is quoted at a value:（）
A. equal to par value less one year's interest.
B. equal to par value.
C. more than par.
答案
参考答案：A
解析：
The more conservative yield measure is the one that results in a lower yield. The YTM on a discount bond will always be less than its yield to call.