单选题 Which of the following statements about embedded options is least likely correct? A. The call option on a bond cannot trade separately from the bond. B. If the market value of a putable bond falls below the par value, the issuer will likely exercise the option. C. The prepayment right granted with a mortgage favors the issuer/borrower.

【正确答案】 B

【答案解析】A put provision allows the investor to put the bond back to the issuer if interest rates rise. Thus, a put option benefits (and may be exercised by) the holder, not the issuer.