n NISM Certifications
XV NISM Series XV
Medium

In which type of bonds do issuers have the right to redeem the bonds early?

Practice question from NISM XV Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Convertible bonds

  2. Callable bonds

    Correct answer

  3. C

    Puttable bonds

  4. D

    Zero coupon bonds

Why this is the answer

Callable bonds allow issuers to redeem them before maturity, enabling companies to manage debt and interest costs efficiently.

Test yourself for real

Take a full NISM Series XV mock test.

Same duration, same weighting, same difficulty distribution as the real exam — with explanations on every question.

NISM XV Mock Test 3