Ture or False and why

1. Primary market is the financial market in which securities are initially issued, the only market in which the issuer has directly involved the transaction
2. The secondary market is the financial market in which pre-owned securities are traded (exchanged)
3. The internal rate of return is the discount rate at which the PV of the initial cash outflow = the PV of the expected cash inflow.
4. The IRR is the discount rate at which NPV = zero or