State for each of the following statements whether it is true or false!

1) The cost for a credit rating typically depends on the size of the bond issue.

2) Rating agencies were not allowed to offer consultancy and rating services at the same time before the Financial Crisis.

3) If bonds of different maturities are perfect substitutes, investing in a two-year bond must have the same expected return than an investment in two consecutive one-year bonds.

4) Future expected short-term rates can be seen in the yield curve if the markets for short, medium, and long-term bonds are segmented.

5) The expectations theory predicts that yield curves are typically upward sloping because short-term rates are more likely to rise when they are low.