问题 单项选择题

Which of the following is an example of an arbitrage opportunity()

A. A portfolio of two securities that will produce a certain return that is greater than the riskfree rate of interest. 

B. A stock with the same price as another has a higher rate of return. 

C. A stock with the same price as another has a higher expected rate of return.

答案

参考答案:A

解析:

An arbitrage opportunity exists when a combination of two securities will produce a certain payoff in the future that produces a return that is greater than the risk-free rate of interest. Borrowing at the riskless rate to purchase the position will produce a certain future amount greater than the amount required to repay the loan.

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