【每日一练】CFA 一级（2015年）

Question：

Which of the following is least likely to be a type of embedded option in a bond issue granted to  bondholders? The right to: 
A. put the issue. 
B. call the issue. 
C. convert the issue. 

Answer = B 
The right to call an issue is a type of embedded option granted to issuers, not bondholders. The other  two rights are embedded options granted to bondholders. 

CFA Level 1 
"Fixed-Income Securities: Defining Elements," Moorad Choudhry and Stephen E. Wilcox 
Section 5.1

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