Consider the following about financial market instruments: 1. Commercial Papers are unsecured, short-term instruments issued by corporations to meet immediate capital needs. 2. Treasury Bills are short-term government securities issued at a discount and redeemed at face value. 3. Corporate Bonds are long-term debt instruments typically with a fixed interest rate. 4. Certificates of Deposit are negotiable instruments issued by banks and select financial institutions for fixed short-term durations. Which of the above statements is correct?