The response to dierent stress amplitudes at temperatures below the glass transition temperature is analyzed by mechanical oscillatory excitation of Pd 40 Ni 40 P 20 metallic glass samples in single cantilever bending geometry. The strain response of the material is well below the critical yield stress even for highest stress amplitudes, implying the expectation of a linear relation between stress and strain according to Hook's Law. However, a deviation from the linear behavior is evident, which is evaluated in terms of temperature dependence and inuence of the applied stress amplitude by two dierent approaches of evaluation. The nonlinear approach is based on a nonlinear expansion of the stress-strain-relation, assuming an intrinsic nonlinear character of the shear or elastic modulus. The degree of nonlinearity is extracted by a period-by-period Fourier-analysis and connected to nonlinear coecients, describing the intensity of nonlinearity at the fundamental and higher harmonic frequencies. While rather small stress amplitudes are connected to a linear response behavior, higher stress amplitudes result in nonlinear behavior, which is enhanced with increasing temperature. The characteristic timescale to adapt to a signicant change in stress amplitude in terms of a recovery timescale to a steady state value is connected to the structural relaxation time of the material, suggesting a connection between the observed nonlinearity and primary relaxation processes. The second approach of evaluation is termed the incremental analysis and relates the observed response behavior to avalanches, which occur due to the activation and correlation of local microstructural rearrangements consisting of a few tens of atoms. These rearrangements are termed as shear transformation zones and correspond to localized plastic events, which are superimposed on the linear response behavior of the material. Temperature and stress enhance the occurrence of intervals of monotonously increasing or decreasing strain. These are connected to avalanche behavior according to the power-law observed in the distributions of strain response. Despite the onset of nonlinearity observed in connection with the nonlinear analysis, the power-law behavior is extracted for all applied stress amplitudes, high and low, suggesting activated plastic events throughout the so called Hookean response regime. The intensity of strain response itself shows a direct relation to the strain rate of the experiment. Both approaches of evaluation are compared regarding common aspects and limits. Response phenomena connected to plastic events in the linear response regime are barely reported in literature even though their existence is implied. The incremental analysis yields experimental evidence supporting their occurrence. Moreover it reects the limits of the nonlinear approach, which neglects strain response on the small scale by the period-wise analysis of the data, resulting in an apparent linear strain response. Still, the nonlinear approach illustrates clearl...