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Basic Question 0 of 6
In a random walk, any observed trends are likely to be:
A. Temporary and due to randomness.
B. Indicative of a non-random process.
C. Predictable over the long term.
D. A result of seasonality.
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I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz
Learning Outcome Statements
explain the instability of coefficients of time-series models;
describe characteristics of random walk processes and contrast them to covariance stationary processes;
CFA® 2025 Level II Curriculum, Volume 1, Module 5.