Multiple-liability immunization question

CFA Level III
#1

Statement 1

“Whenever XX implements a multiple-liability immunization plan, the market value of the assets should be compared with the present value of the remaining liabilities by discounting the liabilities using zero coupon U.S. Treasury yields.”

You are required to state if the above statement is correct or incorrect and the reason why. Could someone please help. Picked the question from analystninja.com sectional mocks on fixed income.

#2

The wording is a little off.

It’s correct if you use the relevant discount rate to every future obligation, and not just the principal. In other words, matching discount rates with duration.

#3

The statement is incorrect as you need to use IRR of the asset side to discount the liabilities.

#4

This makes sense if the market value =/= to the present value.