Question：

The advantages to an investor owning convertible preference shares of a company most likelyinclude: 
A. an opportunity to receive additional dividends if the company's profits exceed a pre-specified level. 
B. preference dividends that are fixed contractual obligations of the company. 
C. less price volatility than the underlying common shares. 
 

Answer = C 
Convertible preference shares tend to exhibit less price volatility than the underlying common shares because the dividend payments are known and more stable.
 

CFA Level I
“Overview of Equity Securities,” Ryan C. Fuhrmann and Asjeet S. Lamba
Section 3.2
 

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