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问题如下：

For a long-term, zero-coupon bond, which of the following factors contributes to heightened difference between the bond’s yield convexity and curve convexity?

选项：

A.

A flat yield curve

B.

A price at or near par

C.

A long time to maturity

解释：

Correct Answer: C

The difference between a zero-coupon bond’s yield convexity and curve convexity is heightened when the yield curve is not flat, the bond is priced at a significant discount or premium, and the bond has a long time to maturity.

A is incorrect because the difference between the bond’s yield convexity and curve convexity is heightened when the yield curve is not flat.

B is incorrect because the difference between the bond’s yield convexity and curve convexity is heightened when the bond is priced at a significant discount or premium (not when it is priced at or near par).