- CFA Exams
- 2025 Level I
- Topic 7. Derivatives
- Learning Module 4. Arbitrage, Replication, and the Cost of Carry in Pricing Derivatives
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Learning Outcome Statements PDF Download
1. Arbitrage and Replication explain how the concepts of arbitrage and replication are used in pricing derivatives | |
2. Costs and Benefits Associated with Owning the Underlying explain the difference between the spot and expected future price of an underlying and the cost of carry associated with holding the underlying asset |

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