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Basic Question 10 of 32
The volatility surface should be ______ in theory. In practice it is ______.
B. flat; non-flat
C. non-flat; flat
A. flat; flat
B. flat; non-flat
C. non-flat; flat
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Learning Outcome Statements
interpret each of the option Greeks;
describe how a delta hedge is executed;
describe the role of gamma risk in options trading;
define implied volatility and explain how it is used in options trading.
CFA® 2025 Level II Curriculum, Volume 5, Module 32.