please answer both questions

Abond portfolio manager has a $25 million market value bond porttolio with a 19 -year duration. The manager believes interest rates miy inctease 50 bisis points. Which of the following could be used to help limit his/her risk? 1. Sell the bonds forward. II. Buy bond futures contracts. Iii. Buy call options on the bonds. IV. Buy put options on the bonds: II and III only. Iii,iit, and IV only tany II only I and N only Question 29 A best efforts offering is one where the issue can only be privately placed. the bid-asks saread is excrotionally high, but the investment borker does their best to seil the issue anyway. the underwiter bears the risk Di an unsuccenstut offering the ituestrient banker acts as a principal for the issuer. the investment bariker acts only as a distribution agent