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Basic Question 2 of 7
The no-arbitrage principle states that ______
II. arbitrage opportunities present themselves regularly.
III. arbitrage profits cannot exist.
I. arbitrage profits must exist in a well-functioning market.
II. arbitrage opportunities present themselves regularly.
III. arbitrage profits cannot exist.
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
explain how the concepts of arbitrage and replication are used in pricing derivatives
CFA® 2025 Level I Curriculum, Volume 5, Module 4.