The market rate of interest for a bond issue that sells for more than its par value is:?

The answer is a) Less than the rate stated on the bond; but what a poorly formed question. The market rate is the rate you would realize were you not to pursue the investment in question hence it's the alternative return of the market in general so the phrase "market rate of interest for a bond issue" is utter nonsense, the market rate would be for the market exclusive of that bond issue not for that bond issue.