of estion Which one of the following statements is INCORRECT? a. O b. 0 . Bond investor can be immunized against the two types of risks (price and reinvestment interest rate) when the duration (D) of the bond is equal to the bond's holding period. Time left 1:15:22 Duration is defined as the weighted average term to maturity, or the weighted average number of years (# of 6 months for semiannual payments) until the cash flows of the bond (coupon payments and face or call value)) occur, were the relative present values of each payment are used as the weight. O d. When a bond sells at discount from its par because its coupon rate is lower than its yield to maturity. Treasury bills are long-term government security with maturity of 3 -12 years, sold at discount from par (Zero coupon bill). The discount price is not set but determined by auctions which go to the highest bidders