Answer whether or not the statement is True $($T$)$ or False $($F$),$ and provide a brief $($no more

than three sentences$)$ explanation of why your answer is correct.

$$A warrant itself is a derivative since the value of it is derived from the bond that is attached to$.$

$[$Note: Bonds with Warrants $($BW$)$ are a type of a bond that has a warrant attached to it$.$ A $$Warrant$$

is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed exercise

price until the expiry date.$]$