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How to perform arbitrage
Contributed by: Simpson
  • 1. What is the core principle behind arbitrage?
A) Predicting future market trends.
B) Exploiting price differences for the same asset in different markets.
C) Influencing market prices through large trades.
D) Holding assets for long-term appreciation.
  • 2. Which of the following is essential for identifying arbitrage opportunities?
A) Real-time market data and price comparison.
B) Reliance on historical price charts.
C) Following advice from market analysts.
D) Gut feeling and intuition.
  • 3. What type of risk is inherent in arbitrage?
A) Execution risk.
B) Credit risk.
C) Inflation risk.
D) Market risk.
  • 4. What does 'risk arbitrage' typically involve?
A) Trading options with high volatility.
B) Investing in mergers and acquisitions.
C) Short selling overvalued stocks.
D) Buying and selling currencies at random times.
  • 5. What is 'triangular arbitrage'?
A) Exploiting price discrepancies between three currencies.
B) Investing in three different countries.
C) Using three different trading strategies.
D) Trading stocks in three different sectors.
  • 6. What role does transaction cost play in arbitrage?
A) It has no impact on profitability.
B) It increases potential profits.
C) It reduces potential profits.
D) It only affects institutional investors.
  • 7. What is a primary challenge to successful arbitrage?
A) Easy access to capital.
B) Lack of regulatory oversight.
C) Too much available information.
D) Opportunities disappearing quickly.
  • 8. Which market is commonly associated with triangular arbitrage?
A) Bond market.
B) Real estate market.
C) Forex market.
D) Commodities market.
  • 9. What is 'covered interest arbitrage'?
A) Ignoring currency exchange rates when investing internationally.
B) Exploiting interest rate differentials and using forward contracts.
C) Investing in high-yield bonds without considering risk.
D) Borrowing money to invest in speculative assets.
  • 10. How does high-frequency trading (HFT) relate to arbitrage?
A) HFT algorithms can quickly identify and execute arbitrage opportunities.
B) HFT focuses solely on long-term investments.
C) HFT eliminates all arbitrage opportunities.
D) HFT has no impact on arbitrage.
  • 11. What is the role of a broker in arbitrage?
A) To manage the investor's portfolio.
B) To guarantee profits from arbitrage.
C) To provide financial advice.
D) To facilitate the execution of trades.
  • 12. Which of the following is a key requirement for effective arbitrage?
A) Blind luck.
B) Sufficient capital.
C) Inside information.
D) Personal relationships with market makers.
  • 13. What is spatial arbitrage?
A) Exploiting price differences in different geographical locations.
B) Arbitraging different time horizons.
C) Using different trading strategies.
D) Trading different types of assets.
  • 14. Why are arbitrage opportunities generally short-lived?
A) Market forces tend to eliminate price discrepancies.
B) Arbitrage is illegal.
C) Traders lose interest quickly.
D) Governments regulate them out of existence.
  • 15. What is an important consideration regarding regulatory risk in arbitrage?
A) Regulatory risk is only relevant for large institutions.
B) Regulations always favor arbitrageurs.
C) Changes in regulations can impact profitability.
D) Arbitrage is unregulated.
  • 16. What is the impact of leverage on arbitrage?
A) It always increases profits.
B) It magnifies both profits and losses.
C) It eliminates the risk of losses.
D) It has no impact on profitability.
  • 17. What is an example of an asset used in arbitrage?
A) A piece of land.
B) A house.
C) Stocks.
D) A car.
  • 18. What is the term for an arbitrage strategy gone wrong?
A) Arb-neutral.
B) Arb-loss.
C) Arb-win.
D) Arb-failure.
  • 19. Which of these is not a type of arbitrage?
A) Retail arbitrage.
B) Statistical arbitrage.
C) Value arbitrage.
D) Convertible arbitrage.
  • 20. What is the purpose of quant models in statistical arbitrage?
A) To identify mispricings through algorithms.
B) To predict the news.
C) To manipulate market prices.
D) To eliminate all risks.
  • 21. What makes arbitrage a key factor in market efficiency?
A) It increases price volatility.
B) It leads to market crashes.
C) It benefits only institutional investors.
D) It reduces price discrepancies.
  • 22. What is the meaning of 'perfect arbitrage'?
A) Risk-free profit.
B) Illegal activity.
C) Extremely complex strategy.
D) Guaranteed high profit.
  • 23. What is the biggest disadvantage of small-scale retail arbitrage?
A) High availability of capital.
B) Guaranteed profits.
C) Low competition.
D) High transaction costs relative to profit.
  • 24. What is the role of information in arbitrage?
A) Information is irrelevant.
B) Early access to information is crucial.
C) All information leads to successful arbitrage.
D) Information is only useful for long-term investing.
  • 25. What type of markets offer more arbitrage opportunities?
A) Stagnant markets.
B) Perfectly efficient markets.
C) Highly regulated markets.
D) Inefficient markets.
  • 26. Which of the following is a common hurdle in arbitrage?
A) No competition.
B) Unlimited liquidity.
C) Slippage.
D) Guaranteed profits.
  • 27. What is the typical time horizon for an arbitrage trade?
A) Very long-term.
B) Short-term.
C) Long-term.
D) Medium-term.
  • 28. What is the most important skill for an arbitrageur?
A) Creativity.
B) Speed and efficiency.
C) Patience.
D) Loyalty.
  • 29. Which form of arbitrage is most easily accessible for retail investors?
A) Retail arbitrage
B) Statistical arbitrage.
C) Covered interest arbitrage
D) High frequency arbitrage
  • 30. What is the outcome when all arbitrage opportunities are eliminated?
A) Nothing changes.
B) Markets become more efficient.
C) Markets become less liquid.
D) Markets crash
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