true or false questions

1) Arbitrage profits are known with certainty

2) The absolute Purchasing Power Parity is equivalent to the law of one price.

3) The relative PPP is a useful tool in predicting day-to-day fluctuation in exchange rates

4) If foreign exchange markets are "strong form efficient", nobody can consistently predict exchange rates

5)The Balance of Payments approach and the international parity conditions approach typically lead to opposite predictions about a foreign exchange rate

6) Using the right techniques, short-term fluctuations in the spot rates are relatively easy to predict