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Basic Question 6 of 14
Which duration measure(s) can be used to measure an option-free bond?
II. Macaulay duration
III. effective duration
I. modified duration
II. Macaulay duration
III. effective duration
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Learning Outcome Statements
calculate and interpret effective duration of a callable or putable bond;
compare effective durations of callable, putable, and straight bonds;
describe the use of one-sided durations and key rate durations to evaluate the interest rate sensitivity of bonds with embedded options;
CFA® 2025 Level II Curriculum, Volume 4, Module 28.