Which of the following statement is TRUE?
a. TIPS are a Treasury offering that protects investors from unexpected increases in inflation.
b. A callable bond is one where the issuer is required to retire a certain amount of the outstanding bonds each year to ensure that all the bond principle is paid by final maturity.
c. Treasury notes and bonds and municipal bonds are default risk free.
d. The dirty price plus accrued interest is called the clean price of the security.
e. Revenue bonds are backed by the full revenue of the municipality.