NO.PZ201602270200002102
问题如下：
2. The effective duration of Bond #6 is:
选项：
A.lower than or equal to 1.
B.higher than 1 but lower than 3.
C.higher than 3.
解释：
A is correct.
The effective duration of a floating-rate bond is close to the time to next reset. As the reset for Bond #6 is annual, the effective duration of this bond is lower than or equal to 1.
老师好，
这个题，等于1的我明白，因为它每年都reset一次，何老师说就当成是一个个一年期的债券一个接一个。但是小于1的情况怎么理解呢？真的存在吗？谢谢老师。
