单选题 Which reason for purchasing U. S. Treasury securities is least valid? A. Coupon strips synthesize a zero-coupon bond. B. Treasury-bonds are available in maturities of two years to nearly 30 years. C. Treasury Inflation Protection Securities (TIPS) raise their principal value to adjust for inflation.

【正确答案】 B

【答案解析】T-bonds are securities with maturities of more than 10 years. T-notes have maturities between 2 and 10 years. The principal value of TIPS increases with inflation while the coupon rate remains fixed. Coupon strips are coupon payments from a Treasury security that are sold separately as zero-coupon securities. Government securities dealers provide a continuous and highly liquid secondary market for Treasury securities.