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Which of the following statements is not correct about bonds and the bond market? Bond prices move closer to the face value as the bond

Which of the following statements is not correct about bonds and the bond market?

Bond prices move closer to the face value as the bond approaches maturity

Bonds can be purchased in both primary and secondary markets

The bond issuer can never elect to redeem the bond prior to the maturity date

The par value will not change during the bond life cycle

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