Which of the following is not a speculative foreign exchange transaction（ ) A: Bilateral arbitrage B: arbitrage C: Multilateral arbitrage D: Hedging

Among the following choices, ___ is not an entrepreneurial behavior. A: Innovation B: Arbitrage C: Imitation D: Rent-setting

__________ ensures that exchange rates in different locations are essentially the same. A: Appreciation of the currency B: Arbitrage C: Forward trading D: Spot trading

Covered interest arbitrage is plausible when the forward premium reflect the interest rate differential between two countries specified by the interest rate parity formula.

抛补套利（Covered Interest Arbitrage），是指在进行套利交易的同时进行外汇抛补以防汇率风险的行为。 （

An arbitrage opportunity is least likely to be exploited when: A: one position is illiquid. B: the price differential between assets is large. C: the investor can execute a transaction in large volumes.

A(n) _____ is the simultaneous purchase and sale of a given amount of foreign exchange for two different value dates. （ ） A: arbitrage B: spot exchange C: carry trade D: currency swap

Option pricing methods mainly include ( ). A: Black-Scholes-Merton model B: Binomial tree pricing model C: Risk-neutral pricing model D: Capital asset pricing model E: Arbitrage pricing model

The practice of buying an asset in one market and selling it immediately in a second market that is located in another country is known as A: a spot market transaction. B: spatial arbitrage. C: bilateral arbitrage D: a composite currency trade.

Concerning efficient financial( including derivative) markets, the most appropriate description is that() A: it is often possible to earn abnormal returns. B: the law of one price holds only in the academic literature. C: arbitrage opportunities rarely exist and are quickly eliminated.