Found Error in Schweser Exam 1 Volume 1 ask, statements, unexpected, adjusted

kamara5

The question was:
An investor is considering floating rate debt and other investments to protect against unexpected increases in inflation. Her friend suggests Treasury Inflation Protected Securities (TIPS) because the coupon rate is adjusted for inflation semiannually. The friend also states on the run Treasury issues have narrower bid ask spreads than other Treasury issues.
Are the friend’s statements correct?
A. Both of these statements are correct.
B. Neither of these statements are correct.
C. Only one of these statements is correct.
My answer: A
Answer per Schweser: C
Explanation by Schweser:
The friend is incorrect about TIPS (the coupon rate is fixed, the par value is adjusted for inflation) and is correct about the bid ask spread for on the run issues).
According to the CFAI text (Volume 5 2009 curriculum page 322, “TIPS have a coupon rate that is effectively adjusted for the rate of inflation…”
Please advise if I am missing something here.
Thanks