Which one of the followings is not a characteristic of a bond's duration?

Group of answer choices

Duration measures a convex relationship between price and yield changes in bonds.

Duration measures in years, and the number years in duration implies how much interest rate risk a bond is exposed to.

It assumes that for every 1% change in interest rates, a bonds price will change approximately 1% in the opposite direction.

A higher duration usually implies that a bond has higher interest rate risk.