Seemed to be a simple question. I got it right, however, I am confused by the explanation for the questions which says that “the duration of the bond does not change with the yield to maturity of the bond”. I always understood that the YTM and duration were inversely related. Any thoughts? (The question in below) Which of the following statements about duration is least accurate? A) There is a direct relationship between yield to maturity and duration. B) There is an inverse relationship between coupon and duration. C) The effective duration of a zero coupon bond is equal to its maturity. Your answer: A was correct! Bonds with larger coupons have a smaller duration, all other things the same. A zero coupon bond has an effective duration equal to its maturity. Duration measures the approximate change in price given a change in interest rates. Therefore, the duration of the bond does not change with the yield to maturity of the bond.