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Which of the following statements is correct regarding to immunization strategy rebalancing. a. Rebalancing is necessary because move forward in time, the liability may not

Which of the following statements is correct regarding to immunization strategy rebalancing.

a. Rebalancing is necessary because move forward in time, the liability may not be fully funded

b. All of the statements are correct.

c. Rebalancing is necessary because the duration of the portfolio changes as the market yield changes

d. Rebalancing is necessary because the duration of the portfolio changes with the passage of time.

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