24. COVERED INTEREST ARBITRAGE IS THE LEAST COMPLEX FORM OF ARBITRAGE. TRUE OR FALSE

25.WHEN MARKET FORCES CAUSE INTEREST RATES AND EXCHANGE RATES TO ADJUST SUCH THAT COVERED INTEREST ARBITRAGE IS NO LONGER FEASIBLE, THE RESULT IS AN EQUILIBRIUM STATE KNOWN AS INTEREST RATE PARITY (IRP). TRUE OR FALSE

26.IN EQUILIBRIUM, THE FORWARD RATE DIFFERS FROM THE SPOT RATE BY A SUFFICIENT AMOUNT TO OFFSET THE INTEREST RATE DIFFERENTIALS BETWEEN THE 2 NATIONS. TRUE OR FALSE

27. NUMEROUS ACADEMIC STUDIES HAVE EXAMINED IRP AND THE STUDIES GENERALLY DO NOT SUPPORT IRP. TRUE OR FALSE

28. ALTHOUGH DEVIATIONS FROM IRP DO OCCUR, THEY ARE USUALLY TOO SLIGHT TO MAKE COVERED INTEREST ARBITRAGE WORTHWHILE TRUE OR FALSE