Question at position 10 A 15-year bond was issued 10 years ago. Its tenor is equal to:A 15-year bond was issued 10 years ago. Its tenor is equal to:10 years15 years none of the options5 years

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BlackTom AI · Accepted Answer

Let's parse the question carefully: a 15-year bond was issued 10 years ago, and we’re asked what its tenor (maturity) is today.
Option 1: 10 years. This would imply the bond still has its full original term remaining, which would mean repayment is due in 10 years from issuance, i.e., at year 20. But since 10 years have already passed since issue, the remaining time is not 10 years.
Option 2: 15 years. This would be the original tenor at issuance. Since time has elapsed, the remaining time cannot still be the full original 15-year period unless no time had passed, which is not the case here. Therefore this option is incorrect.
Option 3: none of the options. We should check whether any other option matches the remaining maturity. If we take the original 15-year term and subtract the 10 years elapsed, the remaining duration is 5 years. That makes a remaining tenor of 5 years, so this option would be incorrect because there is a valid 5-year remaining tenor.
Option 4: 5 years. This aligns with the straightforward remaining-time calculation: remaining maturity = original tenor − time elapsed = 15 − 10 = 5 years. This correctly reflects the bond’s current maturity horizon.
In summary, the key idea is that the bond’s tenor diminishes as time passes since issuance, so the remaining maturity is not the original term and not equal to the elapsed period; it is the original term minus the time already elapsed. The only option that matches 5 years is option 4, and the others misstate the remaining time by either keeping the original term or misattributing the passage of time.

Question at position 10 A 15-year bond was issued 10 years ago. Its tenor is equal to:A 15-year bond was issued 10 years ago. Its tenor is equal to:10 years15 years none of the options5 years

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