Please answer the following questions correctly. Thank you

1. Which is NOT a reason to use swaps to manage a bank's duration gap? Select one: a. Many institutions such as federal agencies are restricted or disallowed to trade in futures. b. Swap costs are low. c. Swaps can be tailored to meet specific needs. d. Swaps are liquid and and easily be reversed.

2. Which of the following is false about duration gap? Select one: a. Duration gap measures the amount of risk due to changes in the interest rate. b. When the duration of assets is less than the duration of liabilities, the duration gap is positive. c. Duration gap is the difference in the price sensitivity of interest-yielding assets and the price sensitivity of liabilities of the bank to a change in market interest rates. d. The difference between the duration of assets and liabilities held by a depository institution.

3. Which of the following is false about duration gap? Select one: a. Duration gap measures the amount of risk due to changes in the interest rate. b. When the duration of assets is less than the duration of liabilities, the duration gap is positive. c. Duration gap is the difference in the price sensitivity of interest-yielding assets and the price sensitivity of liabilities of the bank to a change in market interest rates. d. The difference between the duration of assets and liabilities held by a depository institution Consider the following balance sheet (in millions of $) for a bank: NOMINAL VALUE ASSETS VALUE CERTIFICATES OF DEPOSIT DUE IN CORPORATE LOANS DUE IN 7.5 YEARS $790 1.5 YEARS $650 EQUITY $140