Which of the following statements is FALSE?

Question $10$Select one:

a$.$

Australian Treasury securities have less default risk than Australian corporate bonds.

b$.$

The expected return on a bond is its yield to maturity.

c$.$

As a bond approaches maturity, the price of the bond approaches its face value.

d$.$

Long$-$term bond are more sensitive to changes in interest rates than short$-$term bonds.