A zero-coupon bond:

a.Pays semiannual interest at a high rate

b.Is always tax-free

c.Has no interest-rate risk

d.Is issued at a discount and pays no periodic interest, maturing at face value

Explicación

A zero-coupon bond is sold at a discount to face value and pays all its return at maturity, with no periodic coupons. Its long effective duration makes it highly sensitive to interest-rate changes. Holders may owe tax annually on imputed interest despite receiving no cash.

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Última revisión: 2026-06-08 · proceso editorial

Equipo Editorial de PrepPass · Verificado con NASAA Series 66 Uniform Combined State Law Exam · Cómo revisamos