35 1 point Which of the following statements regarding the valuation of securities is/are) CORRECT? I. For bonds, the valuation process is fairly simple because the returns are known and the risk can be approximated from the currently available data. II. Interest rates are the primary factor affecting bond prices, and changes in interest rates can be effectively forecasted. I only Il only Both I and II Neither I nor II 36 1 point Which of the following statements regarding the use of passive investment strategies as a way to select and manage common stocks is/are) CORRECT? I. Passive investment strategies emphasize minimizing transaction costs and time spent in managing the stock portfolio because expected benefits from active trading or analysis are likely to be less than the costs. II. Passive investors act as if the market is efficient and accept the consensus estimates of return and risk, regarding current market price as the best estimate of a security's value I only Il only Both I and II Neither I nor 11