The Holding Period Return on a Bond

Multiple Choice

The holding period return on a bond:

A) can never be more than the yield to maturity.
B) will equal the yield to maturity if the bond is purchased for face value and sold at a lower price.
C) will be less than the yield to maturity if the bond is sold for more than face value.
D) will be less than the yield to maturity if the bond is sold for less than face value.