Which of the following is NOT a weakness of duration gap analysis?

Select one:

a.

Since continuous rebalancing may be challenging, most portfolio managers seek to be only immunized by rebalancing the portfolio at discrete intervals.

b.

Immunization is a dynamic process.

c.

Restructuring the balance sheet of a large and complex FI can be time-consuming.

d.

Duration matching is costly.

e.

It is difficult to estimate the duration of zero-coupon bonds.