In a liquid bond market, a bond owner should be able to sell a bond at a price O Close to fair market value. O above the original purchase price O close to par value Potential challenges with using indexes as benchmarks can include the following: Challenge 1: Compared to equities, bonds have less active secondary markets. Challenge 2: Index composition tends to change infrequently. Challenge 3: Indexes are subject to the "bums" problem. Which of the above are legitimate challenges? 0 1 and 2 o 2 and 3 0 1 and 3