全英文的CFA考試題是每一位考生都要做的，CFA協(xié)會規(guī)定全球的CFA考試統(tǒng)一采用全英機考模式，那在備考CFA考試你CFA考試題做的如何？我們一起看看這道題！

The U.S. Treasury spot rates are provided in the following table：

?

Consider a 3-year, 9% annual coupon corporate bond currently trading at $89.464. Given the YTM of a 3-year Treasury is 12%, the Z- spread of the corporate bond is closest to:
A. 1.50%.?

B. 1.67%.
C. 1.76%.

Answer：B
The Z- spread is the equal amount that we must add to each rate on the Treasury spot yield curve in order to make the present value of the risky bond’s cash flow equal to its market price.
To compute the Z-spread, set the present value of the bond’s cash flows equal to today’s market price. Discount each cash flow at the appropriate zero-coupon bond spot rate plus a fixed spread named ZS.
89.464 =

?

Solve for ZS. Note that ZS can be found by replacing Choice A, B and C into the equation to see which is the correct answer.ZS=1.67%

所以，這道CFA考試題你會做嗎？在備考中除了掌握知識外，還需要考生熟練的答對考試題，那你準備的如何呢？