单选题
Which of the following is least likely a disadvantage of a callable bond to an investor? The: A. investor is exposed to reinvestment rate risk. B. cash flow pattern of a callable bond is not known with certainty. C. issue often offers a higher coupon rate than a comparable option-free bond.
【正确答案】
C
【答案解析】An issuer of a callable bond must compensate the bondholder when the issue is sold by offering a higher coupon rate or accepting a lower price than if the right is not included.