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Explain why it is inappropriate to use a YTM rate from the yield curve (which is based on coupon bonds) to price a bond. Explain

Explain why it is inappropriate to use a YTM rate from the yield curve (which is based on coupon bonds) to price a bond.
Explain why the following statement is roughly true: A spot rate for period 10 is the "average" of the spot rate for period 1 and the future rates for periods 1 through 9.
Explain why the following statement is roughly false: A forward rate curve is typically much "smoother" than a spot rate curve

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