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Basic Question 1 of 12
Which spread measure is considered to be an indicator of the risk and liquidity in the money markets?
B. Z-spread
C. LIBOR-OIS spread
A. Swap spread
B. Z-spread
C. LIBOR-OIS spread
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.

Andrea Schildbach
Learning Outcome Statements
explain traditional theories of the term structure of interest rates and describe the implications of each theory for forward rates and the shape of the yield curve;
CFA® 2025 Level II Curriculum, Volume 4, Module 26.