Which of the following statements regarding bonds are least accurate?
1. A bond's YTM is the return an investor will earn if they reinvest all coupon payments at the expected return and hold till maturity.
2. A bond's YTM is the return an investor will earn if they reinvest all coupon payments at the then current return and hold till maturity.
3. A debenture is typically backed by an asset that the bond holder can repossess if the debt is not paid.
4. A general obligation bond is backed by the taxing authority of the issuing municipality.
5. A GNMA bond is an unsecured bond backed by the U.S. government.
O 2, 3 and 5.
O 1, 3 and 4.
O 1, 3 and 5.
O 2 and 3 only.