单选题

Which of the following statements about the risks associated with investing in bonds is least accurate?（）

A、 Credit risk is the likelihood that an investor will be unable to sell the security quickly and at a fair price.
B、 Reinvestment risk is the uncertainty about the rate at which cash flows from the security can be reinvested.
C、 Volatility risk is the risk that the price of a bond with an embedded option will decline when expected yield volatility changes.

【正确答案】 A

【答案解析】

Liquidity risk is the likelihood that an investor will be unable to sell the security quickly without offering it at a significantly lower price. Credit or default risk is the possibility that the issuer will fail to meet its obligations under the indenture such as timely payment of interest and principal.