Label each of the following statements as true or false.

(a) To achieve immunization, the convexity of the assets must equal the convexityof the liabilities.

(b) A portfolio of assets and liabilities with Reddington immunization is protectedagainst any possible change in the interest rate.

(c) The theory of immunization was developed to protect against adverse effectscreated by changes in interest rates.

(d) Zero-coupon bonds may be created by separating the coupon payments and re-demption values from bonds and selling each of them separately.