High Probablity of being on the exam: Please help

Guys, I feel like for sure we will get in some form. What are the 2 requirements for multiple liability immunization, and what are the 2 requirements for classical immunization?

Is it…?

Multiple liability Immunization 1) duration of assets = duration of liabilites ($ or number?) and 2) range of asset duration higher than range of liabilities

Classical immunization - 1) duration of asset = duration of liabilities and 2) PV of assets = PV of liabilities

Does this make sense? Anything I’m missing?

for classical pv of initial cfs = pv of liab, duration matching, fixed time horizon, duration of portfolio = duration of initial holding (w avg of indiv port), parallel shifts.

multiple= duration of asset = duration of liab, pv asset s= pv liab, parallel shifts, and wider distribution of assets than liabilities, fully invests, risky

bilal - i get your trying to help, can you please explain in more words though.

Is there a destinction between duration matching between the two?