QUESTION 25 Which of the following is correct concerning bonds? a. A callable bond may be redeemed by the issuer within the terms of the indenture agreement. b. A putable bond may be redeemed by the issuer within the terms of the indenture agreement c. A putable bond is likely to be redeemed when interest rates have declined since issuance. d. A callable bond is likely to be redeemed when interest rates have risen since issuance. QUESTION 27 Which of the following is not correct about TIPS? O a. TIPS are issued directly from the U.S. Treasury. o b. The interest rate for TIPS changes based on inflation. OC. TIPS can be purchased on a competitive or noncompetitive basis. O d. With deflation, the interest payments will decrease for TIPS