单选题 An investor most concerned with reinvestment risk would be least likely to: A. eliminate reinvestment risk by holding a coupon bond until maturity. B. prefer a lower coupon bond to a higher coupon bond. C. be more concerned in a decreasing interest rate environment.

【正确答案】 A

【答案解析】The key term here is coupon bond. While an investor in a fixed-coupon bond can usually eliminate price risk by holding a bond until maturity, the same is not true for reinvestment risk. The receipt of periodic coupon payments exposes the investor to reinvestment risk.