单选题 Which of the following statements about duration is FALSE? A. There is a direct relationship between yield to maturity and duration. B. There is an inverse relationship between coupon and duration. C. There is a direct relationship between duration and maturity.

【正确答案】 A

【答案解析】Bonds with longer maturity have a higher duration, all other things the same. Bonds with larger coupons have a smaller duration, all other things the same. A zero coupon bond has an effective duration equal to its maturity. Duration measures the approximate change in price given a change in interest rates. Therefore, the duration of the bond does not change with the yield to maturity of the bond.