QUESTION 17 Regarding the bond's risk, which statement is NOT correct? When the market interest rate does not have a dramatic change, using duration is close enough to the real price change. Compared to a callable bond, a straight bond (a bond without the callable feature) has higher convexity thus higher interest rate risk. When the market interest rate does not have a dramatic change, using duration only would always underestimate the price change. Bond's credit risk could be measured by its' credit rating