3. A firm's marketable securities account has both 270-day corporate commercial paper and three- month Treasury bills. If the firm chooses to shift its policy and invest 100% into commercial paper only, this new portfolio would have reduced its marketability risk. (TRUE / FALSE) 4. With respect to the workings of a lockbox system, the cheque clearing process begins before the company even knows the payments have been received. (TRUE / FALSE) 5. Excessive short-term financing is not a primary reason why firms have cash surpluses. (TRUE / FALSE)